I have been watching Lululemon ticker LULU for some time. Yesterday, it restested the late April highs near 103 and intraday took it out but could not hold it closing at the lows. Double top? Possibly.
Today we are getting an interesting rally that is bucking the overall market, which I am prepared to fade by punting 1 unit of LULU short here at $102.92
Chart to follow shortly.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $96.70
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $98.25
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Short 1 unit Lululemon ticker LULU @ $102.82 stop @ $105.21