New Position Nike (NKE)
I took a position in $NKE today at $97.41. The stock moved extensively on the heels of Stifel Nicolaus reiterating its "BUY" rating sighting increased demand for the back to school season. Technically, the stock has cleared the 8 ema with volume and is now in a volume pocket to $106.50. Expect some resistance at the 200 day while it rolls through the hundred dollar mark.
Here's the NKE Trade Setup.