27 March 2007

Ready To Rumble

The International Council of Shopping Centers-UBS Retail Chain Store Sales Index increased by 0.2% in the week ended March 24 from the week before, on a seasonally adjusted, comparable-store basis. A week earlier, the index rose by 0.4%.
I initiated a put purchase on CROX yesterday buying some April $45's at $100 thinking that this "fad" stock may feel some pressure as retail may be the next sector to fall out of favor here.and the bears may just get this one right for once...nothing too big as my recent option plays (read NVDA) have been a fiasco. I failed to pull the trigger on CAL and those puts have almost doubled in the last few days of trade. Consumer confidence on tap for 10 a.m. Eco's pretty lite today with the rest of the week jam packed with data points. So let's be a little careful today keeping an eye on the news flow as there may be little to nothing to direct this market...light volume and wider ranges can make for tricky trade with stops being taken out on both sides of the bias...so let the trade come to you...jfg.

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