NKE

Let's focus on the Nike company chart. It's not encouraging. The stock hit its lowest level in 13 years this morning after earnings were announced late yesterday. It wasn't enough to impress Wall Street.

The company has not succeeded in convincing investors of this transformation strategy, especially given the weakness we are seeing in China, a key market where the company is struggling.

Nike is getting crushed today.

Oh man, Nike, can you believe it is not doing it? As they just said on CNBC, down 8% literally just continues to get crushed. Uh, one of my good friends who writes about trade setups put on an amazing options trade in Nike where you risk 37 cents and it's probably going to make around $2.

Imagine risking 37 cents to make $200 or $370 to make more 2,000. That would be that would be nice.

Nike. Oh, that's Nike. I apologize.

We'll get to Nike, which unfortunately is going down even more.

Now, if there's heavy volume in the pre-market on something like a a Nike, I will use that.

The big one, folks, is Nike. Take a look. You guys saw this a little earlier, but Nike beating on earnings, but missing on revenue and missing on their guidance. They lowered guidance.

So, you can see right there, EPS actual was 48 cents versus expected to be 44. So, they beat by 4 cents on a headline basis. That is actually pretty good. But when you look under the hood of that car, things don't look so good.

Revenue missing 11.21 billion versus 11.32 billion expected. And the key in and this is always the key for every stock is what's the guidance because the earnings and revenue are what happened last quarter.

What's the guidance? And guidance they lowered to 1.15 to 1.35 from a buck 69 that had been expected. So, they lowered guidance pretty hefty.

The one thing they do n't spend money on is Nike shoes, and that's a good thing. I still get questions about "Nike", and I still do n't like that arrow.

The stock announced its earnings yesterday and is down another 7%. If you look at the big picture, you'll wonder how a company like Nike can continue to decline? Well, the decline in Nike is very similar to the prospect of a labor market rebound that we have been witnessing in a spectacular way, not just this year, but for many years past.