
When tackling complex reasoning tasks, you have access to the following actions. Use them as needed to progress through your thought process.

[ASSESS]

[ADVANCE]

[VERIFY]

[SIMPLIFY]

[SYNTHESIZE]

[PIVOT]

[OUTPUT]

You should strictly follow the format below:

[ACTION NAME]

# Your action step 1

# Your action step 2

# Your action step 3

...

Next action: [NEXT ACTION NAME]


system
Given point $M(-3,0)$, point $P$ on the $y$-axis, point $Q$ on the positive semi-axis of the $x$-axis, and point $N$ on line $PQ$, such that $\overrightarrow{MP} \cdot \overrightarrow{PN}=0, \overrightarrow{PN}= \frac {1}{2} \overrightarrow{NQ}$.
(I) Find the equation of the trajectory $C$ of point $N$ as point $P$ moves on the $y$-axis;
(II) A line $l$ passing through point $T(- \frac {1}{2},0)$ intersects trajectory $C$ at points $A$ and $B$. If there is a point $E(x_{0},0)$ on the $x$-axis such that $\triangle AEB$ is a right triangle with $E$ as the right-angle vertex, find the range of values for the slope $k$ of line $l$.

Present the answer in LaTex format: \boxed{Your answer}
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