According to Barrons, there has been a good bit of insider selling in Under Armour. That is adding weight to an already pressured stock and support lines are being breached.
Lululemon has pulled back to the 50 day but appears to be finding good support at this level. DKS and UA weakness may be dragging the stock down but I anticipate LULU being the leader out of the pack.
So far, Trina Solar has been left behind while rivals SunTech Power and JA Solar pushing to new highs. This is a bit concerning and if TSL does not hit a new high soon, I would consider it a laggard and be more prone to avoid it.
Coach continues to make new lows and is a barometer for luxury spending. This will have important implications on retailers as we approach the holiday season.
Watch Dicks Sporting Goods closely here as the stock is trying to hold the 200 day. If this proves support, I may consider covering part of my short in hopes that I can lay it back out at higher levels.
Please keep the risk profile balanced as we approach the 2:15 fed release. This could be a big catalyst in either direction so cash may not be a bad decision at this juncture.
update 11/7 Caribbean HotelsWicked Broadway Tickets
November 7th, 2007 at 9:06 pm
LULU is too risky for me at this point. The stock has too much downside risk I think for this type of market. The first time that thing disappoints one bit wall street will give it a bigtime haircut.
November 9th, 2007 at 3:40 pm
Seems like the problem with those solar plays is entry; I just don’t want to be late to the party and left holding the bag.
How about that Falcons Panthers game – I’m thinking I have to take the 4 points given the Falcons to win or lose by a field goal.
November 9th, 2007 at 8:08 pm
First off, thanks for everything on this site. You provide great insight and information. My question pertains to PWRD. Why the massive sell off after more than doubling analyst expectations? I realize the market was down as a whole, tech was crushed, and China was hammered, but you’d think at worst PWRD would tread water after such great earnings release. What gives? TheStreet.com is saying it was due to confusing guidance. I can accomodate that idea as possible, however feel it is unlikely. (The language in the release was akward…They mentioned that they were projecting Q4 to be on par or slightly under this quarters earnings. Which, when compared to initial estimates is actually a RAISE of expectations.
Thoughts? Thanks.