In this tape, the defense never rests. Last week, Lululemon (LULU) reported a good number. Was it perfect? No, but it was better than a lot of other retailers and the forecast was boosted.
A few minutes after it reported, there seemed to be sellers everywhere. They say they “saw through the numbers” and recognized that there was a “slowdown.” It didn’t matter that the quarter was a nice improvement over the last one; this was regarded as another form of disappointment.
But a funny thing happened on the way to the $70s. The sellers–I mean the real sellers–didn’t materialize. Then buyers came in, recognizing that the quarter was for real.
— Option Monster