I don't subscribe too much to the manipulation theory... well sure, a little here and there, but I assume those that do keep it in bounds so as not to go to jail... not likely that they could drive a 130 million share company down by any significant amount - all by themselves and not get caught.

I think the fact is, as management has been gently telling us, the bear market is now touching commodities. NOT, as a speculative commodity company, runs with the tide and is not immune.

Wall street journal story headline reads:

Bear Trap Opens for Resource Stocks

When you see a headline like this in a major financial news paper then the fear is already here. Coal, aluminum, Gold, Copper, many companies are now turning down after a fantastic run. Monsanto, the food guys, are down 15% in the last two weeks. One quoited hedge fund is now in 30% cash. Others are investing in physical gold.

The bright side?

Portfolio manager Jay Wong sees one. "You could consider this a buying opportunity if you have a long term pespective. It looks like much of that bad news or concern about the economy is being priced into the market right now".

And for NOT Longs, this is indeed a bright spot. We all get to buy a terrific company, who has the goods, at a terrific price. And for those of us who bought at higher levels, we get a once in a blue moon opportunity to average down.

IMO

BK