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Message| (955)    We want to go short on Blue Nile (NILE), and
we're suggesting it's got legs to head deeper in the red Friday
after dropping 12.5% to 55.60 in Thursday's night trade after
disappointing Wall Street with its results and guidance.
However, the historical data on earnings-driven downside moves
in NILE is downright demoralizing. It's like that feeling you
get when you buy that ring and realize, "that's one tiny
diamond."  NILE has recorded an earnings-driven after-hours
decline in six of 12 quarters tracked in our MT Pro database.
100.0% of the time (6 out of 6 times) the stock reversed in the
opposite direction by the close of the next day's regular
session compared to the Extended Hours "effective close."  When
it reversed, the price closed in the opposite direction on
average by 8.5% (in 6 events) from the "effective close."  The
strong reversal trend in place in NILE shares has us leery of
loading up on the short side so we wou