Walk the Kevin Plank

After a notably poor quarter, Under Armour's multi-quarter downtrend is stretching further to the downside in a hurry. 

We know UAA has been lagging for a good while now, making even the corrective Nike look glamorous by comparison. But today's 25% move lower likely represents an epiphany by the market that something is terribly wrong with the firm's growth prospects an execution. Technically, a move down to $16 could easily be in the cards in the coming months. 

But in the short-term, it is worth noting that Tom Brady is one of the premier UAA celebrity athletes. And if his Patriots win the Super Bowl this weekend is may be enough to ignite some type of snapback bounce. But the larger issue is that this is clearly a former market leader gone bad, and it may not come back for quite some time. 

So for now, waiting three days (i.e. Three Day Rule) after this plunge makes sense before even considering a scalp long. And if you bet on the Patriots this Sunday then being long UAA for a scalp bounce on Monday may be a proxy in lieu f reaching out to your local bookie. 

More on the market in my usual Midday Video for Members.