Another week coming to a close, another spanking in the share prices of the McFaulds Lake stocks, as the news vacuum continues.

Yesterday NOT hit a new 3 month low at $3.45 and bounced off of support at $3.50. The real support level is around the $3.00 level, and if the market continues to decline it just might get tested. The odds are low, but it could happen. Its not just NOT that is taking the hit here FNC, BMK, KWG, SPQ are also feeling the pain. In fact most of the McFaulds Lake stocks have had their share price cut in half or worse from their recent highs.

The two main factors leading to the McFaulds Lake stocks taking a hit is a lack of news from the assay front and market weakness in general. Lets be honest most penny stocks have taken a huge hit in Jan 2008 so far. Unless a penny stock has come out with good news to keep investors interested they have for the most part been getting sold down hard. In a market decline, penny stocks are the first to get sold off and the last to recover.

Yesterday I added NOT, FNC and KWG to my McFaulds Lake arsenal. Since I have no idea where the bottom is in these stocks, I have decided to just slowly add to the positions. Perhaps the smart thing would be to wait it out and start buying as the stocks share prices improve. But, I would hate to see some great news catch me by suprise and end up scrambling with the herd to get back into these plays. I think by the end of January, these low share prices will be a past memory. I'm not sure what will ignite these stocks again, but it will happen and it will happen when we least expect it.

Keep up the faith, long McFaulds Lake.

Al