Manipulation, yes, but it is far from outrageous. The big investment banks (eg a UBS) have massive derivative speculations that essentially run off options pricing. They have a fundamental need to manipulate major stock/index/commodity prices below upcoming strike levels, at least for their marking dates. They are not interested whatever in little plays like NOT, but these little guys all get caught up in the bigger downdraft. That also makes it easy for larger holders of for example NOT to keep prices pretty much where they want short term barring astounding/unexpected good news. The news we got is great, but hardly unexpected enough to swim against the short term media-driven downdraft in the world markets for resource investments. So, hang in, the news flow will be great requiring a little patience , the stock is unlikely to sell off much from here, and the reversal of the tide by late summer will result in marked forward momentum for high quality juniors. (The alternate or "CNBC approach" is convert all your NOT to USD cash , say 2 Year treasuries while all resources go to cash cost again and the juniors supposedly would vaporize.) As to something likely to happen in 3-4 months as opposed to never , I will hang onto my NOT for a few more months , even with the bigger players largely in control. Happy and predictable times !!
