Harley Davidson (HOG) Taking It On The Chin

HOG is down 4.3% today as of this writing on the back of weaker than expected earnings.  Margins schmargins…yes they are important but I wonder if some investors aren't realizing that the ultimate discretionary spending toy (a Harley) may soon not be on everyone's list anymore…top of cycle etc.

To the charts and we see a three month support legel at $39 that got violated today.  I am expecting some follow-through on this trade in the coming days and in the premium newsletters I am now discussing target levels.

 

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