I work out everyday and all I see is Under Armour, Nike and other cheaper but great brands. LULU $100 Yoga pannts is unsustainable. They started a good trend and a new fashion for Yoga crowd but the competitors have taken over the space with cheaper and better options. At these prices it is a screaming sell.
In cash and short several overcrowded domestic consumer oriented plays that are overcrowded as a "safe growth" trade. Trading around core DITM put positions.
I get the sense that the institutional longs are starting to do the right thing here, which will preserve trust in the system as they recognize how they've all been drawn into an overcrowded herd trade that is NOT an investment...
it's not the past you should worry about but the future. how much are you willing to pay for growth? growth is a game of musical chairs - once the growth/music stops, there's a mad scramble to get out/grab a seat before it is too late.