30Jan11:43 amEST

Just Short It; Chess Moves

jordan-and-blackmon-e1306164990806 I went short NKE here at $92.93 with a cover-stop over $97. The position is roughly 4% of my trading capital. I am playing for a daily chart breakdown from the well-defined descending triangle (light blue lines), seen below. I am also playing for the stock's long-term, abnormally steep trend to break. Simply put, Nike has enjoyed an incredible run since the 2009 bear market bottom especially for such as a mature, large cap company. However, any signs buyer fatigue up here warrant a shot on the short side to play for a prospective sharp correction. NKE

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