Well, since my last post, NITE pretty much did exactly what I expected. It dipped down to the low 50's and has since then built a nice support between 55 and 58. Message 8359353 We had plenty of buying opportunities since March 17th. Technically, my 10M, and 30M charts still show me that NITE is in a consolidation phase with the bollinger bands forming a very tight channel in the 55 to 56 range, which is a very bullish indicator for me. I see strong support here. In addition, with the following brokers reporting this April per earningswhipers.com: AMTD (4/15/99), EGRP (4/14/99), NDB (4/6/99), SCH (4/15/99), and all the favorable NITE articles in NY Times, IBD, etc, I believe it's time for an explosive April earnings rally to the high 70's, possibly break though 80 before April 21-22.
Don't forget the Internet gorillas reporting this month per Briefing.com: YHOO (4/7/99), ATHM, SUNW, ELNK, INKT, XCIT (4/15/99), AOL (4/27/99), that can add to the fuel to keep NITE going until earnings day.
All just my opinions and thoughts. Not a recommendation.
P.S. freeus. Thank you very much for the post. Since I missed that edition of IBD, I've been waiting for someone to take the time to post the article. Very glad you did.
Twick |
