Pulled back to the 10 DMA. And a previous high. There is a good chance that this can go a little lower to 22 (which would make it an easier buy), but it looks tempting here, especially if the market as a whole picks up.
Now, a check on the short interest
As of 09/15/2008 the shares short are 12,736,393 from a previous 14,869,887 with an average volume in the stock of 1,592,988.
Unfortunately, this only include 2 days of major short squeezes, 9-11 and 9-12 and not 3 following squeeze days 9-16, 9-17, 9-18. Lets assume that 2 million shares were covered during this time. That leaves us with 10.7 million shares short and about 7 days left to cover at this current volume. This is still pretty high!
I think this stock can easily see 28 soon, the entry point on this will need to be handled with care so that you don't get burned out of this. I will try to make an intraday post if I go long LULU. I will be using small position sizes to minimize loss and add to it if my thesis proves correct.
