Noble Iron Inc V.NIR.H

RE: Francesco

[Francesco1]

McGown and GRQ MAN, I have been giving the markets time to digest its apparent metamorphous from a Bull to a Bear. The decline of the last 9 months really is the first wave down of a "Bear Phase" in the worldwide financial markets that has yet to complete. We did see small recovery rallys in the time zones of the 39 month cycle, but these lows were seen again shortly after the bottom. That indiates that the decline was reflecting the economic slowdown to come. The slowdown is real, not just a bull market decline but a bear market one. Since the markets always discounts the future by about 9 months, it really is saying that we will see further contractions in the economy. We will just have to put in more time for things to resolve positively ... We should have another down wave after this period of partial recovery, but we should move sideways to higher over the next several months. After this period we could see another test of the lows in the major indexes. This is all part of the payback period of prosperity that we have been experiencing for the last 10+ years. Just part of the process ... As far as NIR is concerned I was "happy" to see the stock trade at the long term target of $1.00 and hold. The $1.00 area really needed to be seen to correct the entire rally leading up to the high in april of 2000. It looks like the entire group of emerging/microcaps is reflecting the same corrective forces, so it is not just NIR that has a "problem". We just have to put in more time waiting ... Perception just doesn't change overnight and when you couple that with a genuine bear market that makes for a very frustrating period indeed ... Just remember this, the more frustation we feel, the more dramatic the upside will be once the corrective proess is finished. As far as when, well it really doesn't matter. Just add to positions when you can, and get on with your other interests while we wait for things to resolve ... Francesco