Nike has likely bottomed following record capitulation volume; position held long-term from entry at 33.
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Perfect. Let's, let's, let's talk about Nike for a moment, because that's what he was talking about. There are two of these. There is Nike and another one whose names I think you should be able to guess.
Let's start with Nike. Maybe I do n't even have to say a word. Nike turned out exactly where we wanted it after our discussion. I think it was last week or two weeks ago, and that was the anchor point.
From what low point was it? I suspect that it was here from this low point . And we talked about it, and what we were looking for, if you remember, was a large volume that would indicate capitulation.
And this is the largest volume this stock has seen in more than 25 years. You go back to, you know, looking at this. Here is , you know, 1999. That is the largest volume. That is capitulation.
I placed a bid and it was executed at 33, and I have held it for the long term. So I think that we , you know, have seen the bottom of Nike .
What this channel has said about $NKE
Brian Shannon has 2 calls on this stock; only the adjacent ones are shown.