Noranda Income Fund Unit NNDIF

RE:RE:RE:RE:support is definitely broken bigtime

[Bigbird999]

I know I am repeating myself but I really believe that the there are only a small percentage (10%-20%) of the 37 million shares being actively traded.    The speculators and day traders keep churning the same 4 -6 million shares back and forth and making nice profits like uograd.  If I am correct in this, it means that he vast majority of NIF shares are in the hands of folks looking for stable dividend income.  Many of them bought this stock years ago at $5 and a bunch more at $2.50 and today are collecting a sustainable dividend of 75 -15% depending where they go in.  In essence they are getting paid while they wait for a buyout or if that doesent happen looking forward to many more years of 30 - 50 (or more) cents per year dividends and a reflection of the dividend in the SP which would be $3 to $5 at 10%.

The shortage of actively traded stock makes it volatile, If you look back at previous SP there is nothing new here.  The price tends to straight up after one of these sudden panic selling/profit taking episodes.

It is now 1 pm price is $2.41 up 5 cents....

Like I said yesterday fun ride ahead.

BB