Remember this was only a news release, but it was put out at an unsettling time. Everything points to negatives in that atmosphere.

FNC hasn't really been pushing very hard (not like NOT did) to get the goods to show their shareholders (this I've heard from their shareholders in the past). I think in some ways FNC was pushing too hard to get something, anything out and that was poor management. Either that or they had to stop a leak from escaping.

In either case, this may be the low or may not. Either way this is near the low and nowhere near the high we will be seeing down the road. Your looking at a short term hiatus from NOT with the intend to get back in. I'm sure you'll know what time is best for you to get back in. The moving averages will take time to cross over again so the technicals say you have a little time. Technicals I don't feel work with NOT in that each day can bring exceptional news. I think we'll be spiking over the next couple of months again. News is brewing, but it does look like drilling near FNC may well be moved elsewhere (that is of course a negative...albeit it took FNC to release news that had any negative connatatation on NOT.

Once again...my strategy is buy on dips (which pretty much means every day right now) and build the portfolio on the cheap. I'm holding some extra cash in case we get a sudden major dip (likely big guys buying in) before it recovers quickly again. It happens in these times. Keep an eye open.

One other thing. I would put a buy order in for 1.00 just in case it gets taken. Then your in on the cheap and saved losing some money doing it. But of course we could be going higher as well....so its always a bit of a gamble.

Best of luck,

MM