I picked up a bunch late yesterday, adding 43 percent more to my NOT holdings at $.99 (I was targeting for 50 percent but didn't get a complete fill).

My buy was a trade only, looking for a near term gain to the $1.20 to $1.30 range. (The previous holdings are core, for longer term.)

My thinking is that this current weakness is capitulation on the part of some longer holders, coupled with tax loss selling pressure, both of which should be nearing completion soon. There is some good support down the bid column, implying that the sub $1 level is seen as good value to some.

It helps that Cliffs seems to be committed to an agressive development of the chromite mine, and as this realization becomes better known, it will be price supportive of NOT.

This stock seems to me to have, at this price, a very favorable risk/reward ratio.