FL: Immediate-Term Overbought

Foot Locker has been one of our favorites all year, and we think that throughout 2010 the fundamentals will support the stock heading meaningfully higher. Please check out any of our prior posts or our FL Black Book for more details there. 

But stocks don't trade in a vacuum. 

Per Keith's risk management models, FL is finally immediate term overbought here, with TRADE line support = $15.36 (about 4% lower). For those who have been watching this name go up from the sidelines, a pullback here might be your second chance.