The chart below shows weekly data since fall of 2005. Under Armour (UA) started trading that November.
UA peaked out September 2015 about 2 months ahead of Nike (NKE).
So far since their peaks, UA has acted weaker than NKE.
The stock market ended the day little changed after pushing higher in the morning. The results were a mixed bag with DJIA and Nasdaq both up just slightly and the other indices down a few points.
The bounce in the market yesterday extended into the morning today but ran out of steam during the 3rd hour of trading. The afternoon had the market digesting news of terror activity in Germany. A stadium was evacuated after an ambulance was found packed with explosives. At least that was the initial report.
There was also news hitting the wire that a passenger tried to get into the cockpit of a British Airways flight from London to Boston. So the market was on edge, digesting these news reports.
In tonight’s video I look at the market action and check the 3 stocks that had the biggest percentages losses (of my list) today…SolarCity (SCTY), Canadian Solar(CSIQ) and Under Armour (UA). Continue reading
In this Sunday Trade Ideas video I review the trade ideas that were entered and closed last week as well as those that are now open. These include Las Vegas Sands (LVS), Under Armour (UA), Visa (V), Alibaba (BABA), Chevron (CVX), Caterpillar (CAT) and Twitter (TWTR). There are two new trade ideas on Apache (APA) and Canadian Solar (CSIQ).
“It doesn’t matter how slowly you go as long as you don’t stop.”
– Confucius
As I look at the stock market action today and recently, it is hard to miss the fact that retail stocks are getting killed. GoPro (GPRO) has been annihilated for a while now but Fitbit (FIT) is joining in as are many others.
As I look at my screen today: FIT -11%, GPRO -7%, Michael Kors (KORS) -5.6%, Lululemon Athletica (LULU) -7.4%, Under Armour (UA) -6.6%, Vipshop (VIPS) -30%, Nordstrom (JWN) -20% and on and on. I wonder what this is saying about the Christmas season. They shoot horses retail stocks don’t they?
All the indices were down today with the DJIA down 56, the SPX down 6.7 and the Nasdaq down 16 points. It was not a super strong selling day but the SPX has now closed 3 days in a row below the 10ema as selling pressure resumed today.
Tonight I review all the current trade ideas including one entered today on Alibaba (BABA). I also talk about a new trade idea on Chevron (CVX). Continue reading
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