The simplest solution is usually right.Here's the simple solution for NFG trading over the last few days:
Everyone knows news is coming in January. Everyone knows Canadian markets were closed on Monday and Tuesday, so everyone knew that NFG wouldn't release news until, at the earliest, on Wednesday (today) when Canadian markets are open again. NFGC started trending up last week in anticipation. That continued in the U.S. on Monday and Tuesday. When there was no news released this morning (the first opportunity when news might have been released), there was a gentle sell-off in reflection of the fact that we really don't know for sure when it will start flowing now.
At 2:00 p.m. eastern time, the FED minutes came out. Financial media interpreted them as hawkish and the manipulative bullion banks went to work pounding silver and gold. Miners (inclucing NFG) sold off in sympathy with the metals. That's the simplest solution, in my opinion. The simplest solution is most likely correct.
Even so, right now, NFGC is trading where it was only Friday, a day we were all very happy with at the time.