I am currently down 50 cents on my entry on KORS . On checking around I found an article on Yahoo saying there are better apparel companies to buy because KORS sales growth is slowing and analysts have reduced FY15 EPS to 4.38 from 4.50. $4.38 would give the company a value of 65.70 . At 42.00 the current P/E is 9.6.
No matter how rational you think you are, the market can run against you for a long time.