LULU battle ensues at 53.80

The battle lines for the territory of lululemon athletica have been drawn. The stock is down 6.6% today, far more pronounced than the rest of the market. DJ down 152 points (1.1%), Nasdaq down 64 points (2.3%), S&P minus 22 points (1.5%). But LULU has been on a tear since its breakout on October 16, when it roared from 41 to 47, then to 53.80 on consecutive days. There has been, really, no fill since then as LULU went to 60. That's a gain of nearly 50% in less than a week.

At 53.93 this moment, the stock is at a critical boundary line, a chance to find shelter at this support level ... or plunge again. At 10% down from its high (60), I think LULU stabilizes here. If not, I'm still holding on for the ride. Well, not for the ride. I'm holding on because this is a long-term hold. Not many companies have guided the street higher on Q3 earnings. I just happen to like a lot of the ones, like LULU, that have.