Michael, I wish "it weren't so". Unfortunately, as has been the case for quite some time, the right tactic yet again, has been to short any technical bounce. This morning was typical. Pre-opening, NITE was bumping 46, opened already weakened, which was a sign. Shorting the 45 level was again correct. My contention has been that NITE is weak. Today NAZ is up over 40, but NITE is down for the day - testing 43. EGRP, AMTD, JBOH are all up. So what is the excuse today? It is internally weak, that's all. Any rise will be shorted. Wasn't that what happened today? Believe me, as a NITE investor, it brings me no joy "to be accurate" in these dismal circumstances - but I have to call 'em as I see 'em.
Good luck!
Morgan |
