Bad Alt?

[julie at menloparkrandd.com (julie@menloparkrandd.com)]

My brandy new battery is being discharged over night by some thing. Fully charged in the evening, its about 4v in the morning.

I measured the 12v to the exiter with the alt disconnected and I get 12v. Add the alt and the voltage drops to millivolts. Battery light lights correctly during this time. On turn on I get 14+ volts at the blue wire. I am wondering if the alt has a short.

1) Bad alt?
2) Bad supply to the blue exiter wire.

Which would be more common.....