Nike Puts
This can go lower but i think its tied to market forces now rather than its earnings.
I expect this to trade in line with other consumers staples.
probably wont see any more big swings and more about if rally continues
we are seeing a lot of resistance at 15k for the nasdaq and dow at 37k we may see some healthy pullbacks with this following market lower
but we could see ot go higher if bulls narrative of rates continue to dominate discussions.
but i see this as unlikely as today shows market is finished with good cpi and pce numbers and large rallies the market priced in rate decreases already.
we are actually starting to see red from consumer staples with signs of slowing reported in future earnings guidance not just from nke and this aligns to lower gdp growth numbers projected for 2024 compared to 2023 by the fed.
markets are now looking at prices to relative earnings expecting 2024 to be flat and these stock prices are too high and im afraid of a huge correction is coming as expectations align to reality of a slowing economy.
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