Brian Shannon on $NKE (Oct 27, 2026)

I applaud you in the case of Nike because the last time you were here and I was singing your praises, there was no problem. You were talking about this. Let's wait for the volume to increase there.

You are right and look at Nike moving forward. Maybe we'll talk about that in a minute.

Okay Brian, anyway, a quick word about Nike. Neil also asked about another stock because you held that call perfectly. I think last week you said you were getting out of it or selling part of it, but buying Nike was a great decision.

I came out of it partially. I bought it at 33, the number we talked about about 5 weeks ago, and then I was waiting for major selling pressure or volume based on that earnings report.

So I invested a little bit in it because we got that volume, and it was, you know, the highest volume in 27 years. Huge volumes are seen during turn changes; That gave me the confidence to go there and buy something.

I sold one-third of it at the 20-day moving average, another third at the 50-day moving average, and I don't know what to do with the other one-third, but I have a good buy price now, so I'll hold it and see what it gives me.

And it's not like you ca n't profit if you find a good turnaround story. Everyone knows that this could be true. And especially in the case of those things that have gone down far.

I mean, before this Texas Instruments trade, my best trade in the last few weeks was Nike and that was a complete bottom play. Right. So, you can get them. Yes. There are all kinds of ways to earn money.

But most of the time, you won't be able to successfully find the bottom. There must be something extraordinary there and as I said in the case of Nike, that was the highest volume in three decades after the 70% drop and you know, after I mention it here, I'm not making fun of anyone but the sentiment was very bad.

I remember reading the comments because I wanted to see what people were saying about Nike, and when I posted this in chat and online, most of the comments were, "Oh, Nike is garbage."

This is shutting down the business. They are the best bad guys ever. You will never make money from this stock. And when sentiment reaches that extreme and you see that capitulation volume, that's when it makes sense to be contrarian.