Stock Trade Update: Short Decker Outdoors (DECK)

Posted by admin
July 21, 2009

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I had to visit our local mall last weekend for an evening stroll. Out of nowhere, my wife pointed out that the mall is really vacant for a summer weekend. I didn’t notice it first hand and couldn’t believe what I saw. It was indeed a deserted place. Now, this makes me think, how these stores are making money to pay the bills??? Are they being bailedout by our beloved government? What happened to the consumer recovery? Green Shoots? If I remember correctly this is what I heard/saw last on CNBC… HA!

So without further ado, I have to take a stab at the retailers and who else fits the bill other than Deckers Outdoor (DECK), makers of the UGG shoes. DECK has had a good run during the last rally phase and is forming a sideways pattern. It can be shorted at the current levels with a stop @ 76.

Shorted DECK @ 72.47 with stop @ 76

Other than the shorts, there are couple of good long setups I’m watching. They are, Netease.com (NTES) and United Therapeutics (UTHR). I’m posting the charts below for your reference.


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Comments
Comment by admin on July 23, 2009 @ 3:17 pm

Got stopped out of DECK and GS shorts for a small loss…

damn these markets are over-extended and wants to keep going higher and higher…

Comment by Evsim on July 23, 2009 @ 5:19 pm

erased all my profits for last 2 days…in SPY-ies vert put spreads 94-90 (opened on tuesday eod) as well as AAPl vert puts…both closed for a loss in the morning… at 10.05 am…. strange feeling..it seems like it is a top… but have to keep discipline…therefore cut the loss… too steady.. too unexplainable action of the whole market… but now after market it looks, like friday will be a very red day… damned =) dislike to miss market tops during bear market rallies…
by the way: nice pictures here:
http://rense.com/1.mpicons/dees1.htm … this is your country..

Comment by admin on July 24, 2009 @ 8:04 am

feel for you Evsim and other traders who would like to short this damn markets. I know this looks like a clear top but can’t say it yet unless I see a BIG RED REVERSAL BAR on the markets. It needs to gap up from previous day and close in the red. Thats it!

I love the pictures of my country… can’t blame you. We’re in deep shit.

Comment by Evsim on July 24, 2009 @ 8:45 am

Actually the country where i live in is even in bigger shit…that’s a weakest point in EU, slavish and full of corruption state whith huge debt and without any industrial economy at all… just facts. really, at least US can print and sell own currency, which still have a significant demand..and..nithing to compare with these 2 countries..
just watch this interview of Latvian minister of economy to bloomberg, which describes the essence of Latvian government: http://www.youtube.com/watch?v=wH92DT0TLxQ&feature=PlayList&p=0E889859E74B6FD3&index=0&playnext=1

Comment by admin on July 24, 2009 @ 9:32 am

damn damn damn!!!

now i feel the heat. I shud have stayed with my DECK short

i knew i was right off the bat but got stopped out of my position with the mechanical stop in place

lets wait for a bounce and then re-short again….

Comment by tony on July 27, 2009 @ 5:25 pm

hi:
is been long time. you finaly show up. good :)
how woud think about CYOU, NTES on recenty pullback??
if it support, how far it coud go? thank you

Comment by admin on July 31, 2009 @ 1:38 pm

I know I was talking about going long some of the chinese internet plays but with such an overbought conditions, I’m not really inclined to buy at these levels

NTES is still looking good on the long side but CYOU is forming a great short pattern with 2 huge down days and a low volume bounce.

Comment by Rony on August 11, 2009 @ 1:29 am

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