Precisely because the fundamentals look good, it looks to me like shares are being unloaded. I mean, NITE just doesn't seem to be able to make a decisive move. If the fundamentals are good, why doesn't it zoom up? Look at today - the market was positive, many tech stocks and internet issues did very well, many seemingly "less deserving" stocks raced up, but NITE sank on the day. The fact that it doesn't seem to be able to hold 60, is very cautionary. The selling is just huge - though one strange note on all this: in the last 5 minutes or so, it looked to me like FBCO was holding up the price - they were at the bid at 59 1/2, many times alone, and everyone and their brother were on the ask - unloading, unloading, unloading. But FBCO kept it at 59 1/2. I don't know what that means, but at this point I'll only come back to buy more once this crazy selling lets up.
Morgan |
