Thu, Jun 20, 2013, 6:32 AM EDT - U.S. Markets open in 2 hrs 58 mins
ladies, the first day of every year is typically a SUCKER RALLY move, leading to a TERRIBLE ensuing month of trading action, immediately thereafter.
And when an OBSCENELY OVERHYPED stock like NKE COMPLETELY IGNORES even a SUCKER RALLY, as it did today, that is MASSIVELY MASSIVELY MASSIVELY BEARISH.
Ladies, god help the dumb AMATEUR DUPES who hold only pure long positions in this kind of MEGA-bubble equity......without some kind of SHORT or PUT protection, they are DOOMED DOOMED DOOMED.
And how this thing ever managed to achieve a market valuation of over 45 billion is entirely INSANE!!
LOOK OUT BELOW, this is a FATALLY WOUNDED equity by ALL technical indicators.