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REPORTS FROM THE TRENCHES
Hubert Senters here.
I had a question from a viewer. Clay — oh I’m sorry from Tony. Can you please give us a breakdown on Lululemon? Thanks. So first the founder of Lululemon — I think it’s little black pants as a good book out. Really good book you should check it out.
Let me actually look on Amazon really quick. So I was wrong on the title. I think I was wrong. Here it is. So let me move this into the camera view. It is called Little Black Stretchy Pants and as you can see I already own it. Go check it out. I’ve got it on Audible. It’s a good book. Especially if you like Lululemon, the company or how they built their cult following. Definitely a neat reading book.
Source of stock it’s just like everything else. It’s going to get smoked right now because index futures are going lower. It’s bouncing a little bit here at the $120 area which you would think it would because it has a little bit of support there in the cloud. It’s got this gap down here that’s going to go fill at $106.
And it could ultimately go as low as $80 as is all predicated on. This is a market proxy stock. If the market goes up this thing is going to go up. If market goes down this thing is going to go down. So whatever the Nasdaq is doing this thing is going to have to mirror it to some degree. But overall these are your next fall points. I would say $110-ish then I would say $100-ish. And then after that you’re looking at $83.
TradeThirsty is having their annual trade giving event from Friday at 9AM EST until 4PM EST. The day after Thanksgiving, November 23rd. I’ll be the first speaker up followed by Johnny, Serge, Hima, Andrew Toni and then Jack. I’m going over the state of the market moving on through that. See if we can find some new longs and new shorts and we’ll be talking about where we’re going next.
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Good luck. Hope it helps. And I’ll lead you over the form.