Yes, I too like NITE on fundamental grounds, but for whatever reason, this dog just won't hunt. So, I did the logical thing, and shorted it. The trend definitely seems to "sell the news" - look at AMTD, NDB, YHOO, etc, etc, etc, - all down strongly after earnings. The sad thing is that NITE is down *before* earnings. Hell, I'd much rather prefer to make $ on NITE going long - but what can I do, when it is as weak as it is, gotta do what the trend is. The trend is lower. I'll cover, but I'll be careful about going long.
Morgan |
