This thing is such a no brainer short right now its unreal. It has doubled since January and predictably retraced from last year. I think this one will get cut in half within the next 4-8 weeks.
Port, there isn't really anything unique about this stock to make it shortable...if you pull up almost any piece of sh*t equity it's essentially doubled since March.
I agree with Port. While most of the other stocks' price increase is accompanied by large volume's buying, most of NILE's large volume transactions seem to be on the sell side since March 20th. This one seems to be a prime target for shorting and it has been on my radar for a while now. I suspect that the dramatic price increase in the last couple of days was probably due to a mini short squeeze. Waiting for a pullback in the general market to enter a short here.
don't listen to his calls. Port is known to be wrong consistently. He spends all his time posting, not trading.
Hey fencerd since you want to critique people....How is the AZO short going. What is the purpose of bashing someone for giving a winning pick. If you would have listened to him you would be up 4 points. I dont always agree with PORT but he does at least provide DD. SHORT3R
I like this one because, simply put, it failed to bust above the cup. Fundamentally speaking, we are in a very bad recession with no end (possibly a depression). This has to fall and the last month has simply been short covering. The chart says it all. Trust the chart... http://stockcharts.com/h-sc/ui?s=NILE&p=D&b=2&g=0&id=p81154583106
I tried to buy puts on this pig Friday but the order kept getting rejected. Broker said: "it is the CBOE that is actually blocking open orders for certain securities. Please access this website and you will see that it was just restricted on 3/26/09." www.cboe.org/restrictions I guess I should have shorted.