That's good news, of course, for NILE longs. For me, it's bittersweet. I pulled a buy order at $75 on Friday. Then on Monday, I got in at 80, but just a small slice of the pie. (The stock wasn't cheap any more, above it's 50-day MA, but still trading at its 13-day MA.) In my mind, I'm keeping dry powder for a correction, not for a stock that had languishied at its 50-day moving averages last week. So, with Nasdaq up 17 points, it'll be interesting to see what the stock does. Yesterday, NILE ran up to 83 mid-day, then pulled back to 80 by the close. Will it do the same today? If it does, then it would be clear that the stock is being used and abused by traders. Or perhaps former longs are getting over the immense insider selling that tackled the stock in the past few weeks. My guess is that it's the former.
To infinity and beyond? Aah, I'm guessing not.
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