Conversations with Jaguars – August 21 ($URBN, $RNLX, $BF.B)

Second time this week, taking another look at market internals that continue to show sign of rolling over with distribution underneath while the market is held up by large cap tech stocks. After successful bearish call on $PLCE recently, now making new bearish call on $URBN based on channel checks. Bullish long term view on a new IPO with high growth called $RNLX which will be covered by Jay in Weekend Research this Sunday. Bullish view on $BF.B (or $BF/B) which continues to show double digit growth for spirit sales and saw call roll yesterday.