That's a good question.

Trying to figure this out...obviously the certainty of the Cliffs deal is in question. Hard to believe it wouldn't go through but we all know to expect the unexected here.

Does that mean money exiting the FWR deal is flowing into NOT? Perhaps. It would seem like the right place to be if you want to keep exposure to ROF.

Not sure what impact the Cliffs deal falling through would have on NOT. Could make it weaker knowing that Cliffs guaranteed infrastructure money is off the table. Could make it stronger knowing there is resisitance from shareholders to the valuation of FWR by Cliffs offer.

Next few days will undoubtedly by the most interesting of 2010 so far....

B