The reason that NOT has been weak over the past few months has been, to the most part, already covered. One point that I wish to add is that the price of nickel has not performed well along with some other base metals.

When the NOT initial discovery was made nickel had just started to move up from around $13 a pound and continued higher to about $15 during the intitial buying frenzy in September of last year. Today, it closed below 10, at $9.68. I think this has a little to due with NOT's recent continuing weakness. The fact that lead and zinc are on the bottom of their recent weaknesses doesn't help either. The only bright spot in the base metals camp is copper which is nudging at the $4 area again and signalling inflation over deflation as time moves ahead.

In April two Chinese companies purchased Yukon Zinc. For the Chinese to be buying zinc in the ground would infer that the base metals may have had their run to the downside or are very near to it.

Roadguy, you presented a clear picture on a chart of what the price activity has been over the past 10 weeks or so. If you can get out a ruler and connect the declining highs with a straight line you have a 10 week declining trend line. Once this line is broken with higher prices sometime ahead, I think you will feel much better.

Go NOT!!