dejavu, thank you for your kind words.
Re: "internal weakness" - this refers strictly to trading, not any fundamental aspect of NITE. It means simply that NITE has very little buying support, and is easily pushed down. A stock that has "neutral strength" relative to the market ('relative strength'), will drift exactly in accordance with the market (market up, stock up, market down, stock down etc.) - and by extension if it is "strong" it will go up, or stay flat even in a negative market, if it is "weak" it will stay flat or even go down in a positive market. A stock that has "neutral strength" relative to its sector, will rise and fall exactly with the sector, etc. A stock that is "internally weak" has poor relative strength across the other indices market, sector, cap, etc.
This does not say anything about the fundamentals (although often it can be correlated), but is a way of distinguishing from market and sector effects. Thus, I was referring to "internal weakness" when NITE kept declining despite the fact that the market was positive and stocks in its sector were showing gains. On Friday, I noted that NITE *may* be getting stronger, because it rose while the sector was mixed. I said *may* because the trading was very subject to major crosscurrents, and so it was hard to get a clear picture of NITE's internal strength that day.
Hope this helps!
Morgan |
