JBOH ?? No thanks. It's going to be cheaper IMO. Back to NITE.
It's time for NITE to build a new base in the high 55 - 60 range. Maybe a bit too optimistic, but if not there, then I see the next strong support level right at around 50. Volume is slowing. We were not able to close above yesterday's close of 58 1/2 even with the SCH pre-announcement. Nothing wrong with taking a breather after such an awesome run. I'm still long NITE, but I also have to accept that NITE can't go up every day. But then again, any good news or positive pre-announcement will blow away my theory.
Oh yea. Almost forgot to say that IBD's corporate ratings show NITE as 99/99/A/A/A. It doesn't get any better than that!
Mar 16 close 58 1/2 volume 838,400
Mar 15 close 58 1/2 volume 2,137,300
Mar 12 close 54 13/16 volume 1,742,800
Mar 11 close 53 1/4 volume 3,236,700
Mar 10 close 57 volume 3,721,000
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