Update at Noon: Looks like I am wrong. LLL.TO is testing its recent high at \$40.50. However, volume is rather low up to now. I'm out my Lululemon (LLL.TO) position because of market softness. Bonds (TLT) are holding a support level. EUR/USD is struggling to hold above 1.27. And the oversea markets (Asia and Europe) are weak overnight. Perhaps the market is getting ready to catapult up. Perhaps it is not. But I'm not going to place my bet on anything as I don't have a clue where it's about to go at the moment. So I am stopping out of this position at breakeven. Preserving capital. Moreover, recent price move in Lululemon (LULU on Nasdaq) is disappointing. Despite the market marking new consecutive highs for the past few days, LLL is stuck in a rut as shown in Figure 1.
[caption id="" align="aligncenter" width="570" caption="Lululemon (LLL.TO) intraday"][/caption]
Purchase price of these shares were \$39.86 from a week ago.
Exact return is (\$40 - \$39.86) * 140 = \$19.60 - \$9.90 commission = \$9.70. In any case, I'm all cash in my account now. At least I've free myself from the market for the next two weeks during my trip to Hong Kong. Here's an updated view of the daily chart of LLL.
[caption id="" align="aligncenter" width="570" caption="Lululemon (LLL.TO)"]1[/caption]