So how has January been treating Blue Nile (NASDAQ:NILE)? Not so bad, considering that investors may take heart in several developments, including optimistic holiday indications from high-end diamond competitor Tiffany (NYSE:TIF) and a few upcoming red-letter days for the online retailer.

Falling after the holiday season, January doesn't tend to be a jewel-studded month for many of us. But Valentine's Day is close at hand, and that gives Blue Nile shareholders quite a bit to look forward to. A Motley Fool Rule Breakers stock, Blue Nile sent out a press release outlining what "bad gifts" are -- so watch your lists, fellas.

Here's the skinny: The press release claims that flowers and candy, two Valentine's Day mainstays, are among the top five "bad gifts" that ruin the day for some disappointed sweethearts -- especially those who are expecting diamonds. (Read the rest of the release for more entertainment: Other bad gifts ranked have included a vacuum cleaner, a can of soup, an ice scraper, and cold pizza. Hmm... yeah.)

Not to knock the precious gems -- far from it -- but I have to laugh because this Fool, whose Valentine's date this year is going to be her TiVo (NASDAQ:TIVO), has never turned down flowers or candy. (I would pass on the can of soup, though. Sorry, Campbell (NYSE:CPB) -- Chicken & Stars just doesn't have an edge in this holiday for lovers.)

Of more interest this month -- an item that's been discussed at length on our Rule Breakers-dedicated Blue Nile discussion board -- was word that Blue Nile is entering the Canadian market. It seems the thing to do these days; ever since a certain day in early November, lots of folks from here in the States have been threatening to go expat and put down stakes in Canada.

All joking aside, Blue Nile now has a Canadian website at, as well as a partnership with Canadian online bookseller Indigo, an alliance that naturally brings to mind's (NASDAQ:AMZN) recent foray into jewelry.

Speaking of rivals, though, we're also ending the month with a little fear over another online competitor -- word has it that (NASDAQ:OSTK), another Rule Breaker at that, is debuting a build-your-own engagement ring service -- one of Blue Nile's claims to fame. What's this -- a duel brewing between Rule Breakers?

Our Rule Breakers members have been chatting about whether this is a big deal. For example, take this suggestion: Many women might not be too psyched over getting an engagement ring from a place called "Overstock." It sounds too bargain-basement. What do you think?

Of course, if there's anything else that might make some investors a little nervous, it's Overstock's recent proclamation that it's going to throw margins -- and caution -- to the wind as it tries hard to undercut the prices of its rivals, many of which are fairly well-entrenched.

At any rate, we wind up January with our eyes on two red-letter days: Feb. 8 (D-Day for Blue Nile's earnings release) and Feb. 14 (obviously, one of the biggest days for diamonds). If you're a Blue Nile investor, remember: The Rule Breakers team is watching this stock and many more -- and the discussion board that comes with the service is all abuzz over related issues.

Don't miss any of the excitement -- take a 30-day free trial to Rule Breakers by clickinghere. Blue Nile and areMotley Fool Rule Breakerspicks. and TiVo areMotley Fool Stock Advisorpicks. There's something for everyone in our suite of newsletters.

Alyce Lomax does not own shares of any of the companies mentioned.