Looking at weekly chart of Blue Nile is like looking at large slide.  The stock just keeps dropping.  Technically it keeps rallying into sell-offs and then when you think it found support it just drops through the floor.

The numbers aren't much better for NILE.  Its sales growth rate over the last 3 years has been pretty tepid at 6.5% range and earnings this quarter are down year of year  61% from last year.  So with little fundementally good about the stock and the technicals pointing the same way its best to say that this stock one to avoid.