NKE, the gym shoes, update

NKE june 2012

This one went at least $15 or more above what looked like a top back in January, but today it is $20 below that peak and dropping. Selling gym shoes at $325 or so is a great business if there are takers. Apparently that is the question that seems to have been answered today in the negative. The beauty of momentum stocks is that  once the momentum stops there is nothing left, very much like the greater fool expectation. Look for a lot lower.