Deckers Outdoor Corp. (DECK) -- 'Ugg'!
by Houghton and Atkeson 08/04/08
Deckers Outdoor Corp. (DECK) makes the Uggs, Teva, Simple, Tsubo and Deckers brands of footwear.
Short interest relative to float is up 18% in the last reporting period to roughly 32%. Today, options investors are jumping on-board by buying the DECK Aug 100 Puts (QUKTT) more than 1,000 times and financing this purchase by selling the DECK Sept 80 Puts (QUKUP).
Is Deck starting a Crocs-like (CROX) drop?
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Looking into June, the market should begin refocusing on upcoming earnings reports for evidence the economy is gaining momentum.
Watching the Treasury's Actions
In the short-term, the government's bond auction is likely to be a key driver of stocks.
Treasury Auction Boosts Market
The Treasury's auction of two-year notes brought an upside surprise which should alleviate fears of a lack of demand for U.S. paper.
Credit Markets Point to Upturn
The credit market, a reliable indicator of equity direction, suggests we will break out of the SPX's trading range to the upside.
The market seems to be saying that a 30% move up from the lows is ahead of the real economy and the market needs to allow the economy to catch up.
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