Fast and Furious is what today was.  When the ECB announced their short term plan to deal with sovereign debt the market did not like what it heard.  Last week Mario Draghi was saying that the will do everything in their power to prevent the collapse of the Euro,  this was not viewed as doing everything and so the market sold off.  The takeway today was it could have been much worse.  The Dow was down almost 200 points intraday, but by the close we were only off 92 on the Dow and 10 on the S&P.

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.

See our Chart of the Day Pfizer