Of course, that is my concern too. There is no strength in the stock. The only time NITE seems to go up, is when the market is *blazing* hot. Otherwise NITE is down, even when the market is moderately up. I can only imagine what will happen if the market sells off. There is no doubt NITE is acting very weak, and has been acting weak for a long time now, and I can't figure out why - probably we'll find out in due time... it is my experience that when a stock acts weak/strong consistently, eventually us peons find out the reason "big money" has been buying/selling all along. As to the market, yeah, NYSE seems overbought, but I'm not so sure about the Naz - I mean, we are supposed to have a summer rally - there is not much time left to have one, since there seems to be a consensus that the fall sell-off will come early this year. In any case, I expect the Naz at least, to rally next week, perhaps not every day, but to have a good one over the next two weeks or so. If NITE does not move strongly by then, I'll be very concerned, and I'll quickly sell my 40's shares (which I will do anyway before the end of the summer rally). We'll see.
Morgan |
