Is it my imagination or did our shorting friends show up again at the end of the day?

I was able to watch the action for the best part of the day today, unlike other days this week.  Two runs up into the $6 and lows a far down as $5.35.  20% swings on a stock that is trading at a $60M dollar volume.

The average price of trades for the past two days has got to be in the $6.10 range.  The way the bids were being taken out the last half hour showed that there was no patience or restraint on behalf of the sellers.  This tells me that these were not recent buyers selling, but more shorting by those trying to make 10% in the opposite direction.

What amazes me is that these dummies have not learned.  They got burned at .77 cents, got burned at $3.00, and again at $3.80.  Who in there right mind would short one of the most popular stocks in Canada at the moment.

Given the large money pouring in (I do not know of too many retail guys buying the stock at over $6), these games will be eliminated as soon as they are conceived.  My hope is that King Richard releases another halt when they least expect it.  Not only to burn the shorts but give encouragement to the large money that has recently arrived.

To put this into perspective folks, the trading value today was worth more than Noront's market capitalization in August.  More was paid for stock today than what could have (theoritically on paper of course) bought the company out right in early August.

I believe we were more vulnerable to long lasting swings before the large houses started to appear.  There is more risk to shorting this stock and hoping it stays down in order to accumulate than staying long at the present time.  There is nothing that has been presented to that is known that would account for a short sentiment.  It is pure gambling at much higher stakes on the hedge funds part.

The one thing that we can look forward to is the continual take out of asks during each day.  As this cannot be constantly kept up for the entire trading day, those trying to manipulate the stock downward for whatever reason do so during the lulls.  I many respects that they providing cheaper paper to what will end up being much stronger hands.

This bodes well for all of us in the long term as NOT moves from a purely spec company to a development company with proven reserves.

Keep the faith everyone.  The drill results have not changed.  Only the players who like to take a beating.

M1.