Good morning. Overseas indices are up sharply this morning on expectations of the Group of Seven finance ministers, which are meeting today in Washington. The word is they will announce a new plan to stabilize banks and financial markets. Perhaps this will put in a short term bottom for the financial stocks. On the economic calendar at 10 am is the Michigan consumer sentiment survey numbers. These numbers can be market movers but lately bad news is getting bought. This suggests many in the market believe a soft landing in this economic cycle has been achieved and we will see a turn around to the upside in coming months.

Back in McFaulds Lake, NOT had a little bounce in its share price from oversold levels. The chart looks much better and is now flashing a buy signal. NOT still needs to confirm the signal with a break atop it's EMA(50) at $5.30 which would then be support. Perhaps we have some news from the assay front coming shortly. A break atop $5.40 with some volume would suggest a new uptrend is probable. JMHO

FNC has been doing the slow bleed in share price, but the low volume makes it look like its a sell off more on lack of buyers, than an abundance of sellers. Many investors appear tired of waiting for Peter Smith to announce a drill program and are doing the slow bail. Come on Smithy, get off your arse and announce a drilling date. I check daily to see if insiders are buying this stock, if and when they do I will jump in with both feet again. Until then only an announcement of a drill date will bring me back into the fold.

FWR