Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Bought More NKE, Today,

|Includes: Nike Inc. (NKE)

4/4 @ 73.13 for Account IV. Account IV is now nearly 100% NKE. Overpriced momentum stocks continue to get hammered while lower valuation stocks with nice dividends are holding steady. NKE is a bit of a hybrid. It is not cheap at apx 24 times earnings, but it is not ridiculously valued like many of the momentum names that are crashing. Probably the best comparison for NKE is UA that trades around 75 times earnings and has no dividend compared to NKE's 1.3% yield. With NKE's strong international brands, strong balance sheet, continuous profitability and growth over decades, and dividend (albeit small), while NKE isn't cheap, it does provide a level of quality for which it should not lumped into the momentum crowd that is deservedly crashing. Hopefully at some point the money coming out of questionable growth at unreasonable prices will find its way back to reasonable growth at better prices.

Also, right now, both Washington and NY are jumping on the high speed trading issue discussed in Michael Lewis' new book, and that constantly is on CNBC. Lots of negativity. Lots of void to fill until earnings season kicks off next week.

Disclosure: I am long NKE, KALU.