Thanks for a well thought out post that took a lot of work. It would be great "required reading" for any new investor in NOT. I note that many of your "Uncertain" factors involve timing, with which I strongly agree. That may be the single biggest common factor that is stalling the market as reflected in the share price. I just watched CNN's Fareed Zhakaria interviewing G. Soros, and his comments regarding the course of China /Us co-operation and economic relations really magnify many of the broader issues you have touched on.