RedHotStocks

$FL Foot Locker is Nike's best friend

Long
NYSE:FL   Foot Locker, Inc.
If you like Nike, YOU SHOULD LOVE FOOT LOCKER, the tend to move in a very similar pattern. FL sells at a very reasonable P/E 13 while NKE has a 33P/E, we have every confidence that we will see the price move to fill the gap at $70 before continuing to a all time high of $78. Consumer confidence and spending statistics have recovered from a poor 4th quarter of 2019. Staying long unless we break down below $60 where we will reassess our position.

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