Net income and earnings of MSC Industrial Direct Co., Inc. (NYSE: MSM ) have been heading down for several quarters now. But, after the most recent quarter, investors vigorously bid up the share price:Robert F. Abbott has been investing his family’s accounts since 1995, and in 2010 added options, mainly covered calls and collars with long stocks. He is a freelance writer, and his projects include a website that provides information for new and intermediate-level mutual fund investors. A resident of Airdrie, ...