It is a tough time to buy anything these days and hold overnight. However, I think Nike Inc. (Ticker: NKE) might be one of those names. With a big jump off earnings and a huge slew of upgrades that came through shortly after, investors and the streets are pretty bullish on the company. IF the stock finds support at the $89 price range, I would be very interested in entering a buy signal there. A bounce at support that was previously resistance is a bullish reaction, and that is what I am looking for. The markets conditions say ‘buy the dips and sell the rips” and that is what I plan on doing until we breakout on a trend. For now, value is the play and will remain so.
