Who would you pay to watch play? Perhaps Nike?

Who do you think is smiling more, MJ or Tiger? In reality, it's neither - it is Phil Knight and his gang in the great northwest ... Nike (NYSE: NKE). Both of these athletes are sponsored by the swoosh, and both rake in a lot of money for the company. If it weren't for Tiger, people may not be dishing out $56 for a dozen golf balls (I feel that $56 is a bit high for four dozen golf balls at the rate I lose them). What's more, if it weren't for MJ, we may never have heard of the Oregon-based athletic-apparel manufacturer. I know NKE was around before MJ, but he helped the company carve its niche.

Of course, considering the fact that NKE is trading near two-year lows at the $45 level, perhaps no one associated with NKE is smiling. That said, it certainly appears as if the stock may have formed a double bottom. Keep an eye out to see if the stock can rebound from the $45 level and break through overhead trendline resistance. If this happens, then it may be investors dishing out cash for NKE rather than 40 pro athletes.