Lululemon

Like most investing, you're not protected from market meltdown, and there's always the risk of missing out on a star.

Each one of this sporting trio of stocks is riding high. The question is whether one or more of them can keep the surge going. We'll look at the pros and cons of Lululemon, Under Armour and Nike, and let you decide for yourself which ones are most likely to score for your portfolio.

The upscale retailer of fashionable fitness apparel came through with another monster quarter this morning. Net revenue soared 39% to $212.3 million, backed by strong consumer-direct sales, brisk expansion, and a stunning 20% spike in comparable-store sales. Earnings grew even faster, climbing 76% to $38.4 million.

Athleta, a women's sportswear merchant that the Gap bought in 2008, opened its first two East Coast stores in New York this week. At a time when 200 Gap stores are closing, Athleta is sprinting toward its goal of 50 stores by 2013. But can it beat out its fast-growing competitors?

Yoga and fitness apparel specialist lululemon athletica has earned the awe of stock watchers and customers alike. While the general market has gained a respectable 5% in 2011, lululemon is up more than 70%. Looking five to 10 years down the road, this could become one of the world's great athletic brands.

Among the questions investors should consider in the new year: Is Chinese the new language of the Internet? Will the demand for silver continue into 2011? Does the January Effect really work in the stock market?

Amid all the chain-store carnage, some smaller merchants are trying to attract shoppers with new concepts, from textbook rentals to made-to-order pants. And many are finding success in a bruising economic environment.

Shares in Lululemon Athletica rallied sharply Friday after the maker of yoga-inspired athletic apparel reported better-than-expected second-quarter earnings and raised its full-year outlook.