Backfilling is going on at the moment, as NOR trends up toward 3. A good catalyst exists when (not if) the next divvy is announced that should propel this stock to the mid-3 range. Aluminum producers have already touched bottoms, and the ones not shuttering and are in the U.S. are poised to take advantage by 1st Q 2014. M&A's and asset acquisitions are also going to pick up starting in 2014. Disclosure - I currently do not have a position in NOR. I realized a $2,700 gain from my last position in NOR.
Not that gutsy of a move really. A new 52 week low was established yesterday, reflecting the latest risk in the pps. 52 week and 3 month moving averages are still above the $4 mark. From here, the market realizes that the chance of a $1 gain are greater than a $1 fall. JMHO and GLTA