If a billionaire is buying, pay close attention.

They’re not likely to put their money where their mouths are, unless they’re confident.

Look at Nike (NKE), for example.

Nike dropped from about $69 to a low of $56.99 on weak China sales, declining gross margins, and a cautious outlook. 

Simply follow the daily alert system I'll show you every morning, and you might be surprised at what you will start doing. -Pay off the medical bills... -go out to eat without busting any budget... -put down cash for a new remodel... Just $1—Click here

However, Apple’s Tim Cook sees value, having just bought $3 million worth of Nike stock at the bottom of a trend. Cook, who has been on the NKE board since 2005, bought 50,000 shares at an average price of $58.97 a share. Robert Swan, another Nike director, bought about $500,000 of stock on Dec. 22 at an average price of $57.54. 

While NKE isn’t out of the woods just yet, it’s encouraging to see insider confidence.

Technically, after catching strong support at about $57, the oversold shoe giant is starting to pivot higher. Last trading at $60.93, it’s also starting to pivot from overextensions on RSI, MACD, and Williams’ %R. From here, we’d like to see it initially refill its bearish gap at around $66.20 a share over the next few days.

Sincerely,

Ian Cooper