thanks jeff and will for encouraging me to stay for 38 :)) haven't sold a share yet and bot at 27 a few weeks back.
i sold wcii at 41 to get into this. i was going to sell fosl and get back into wcii when it found support, but now, hmmmmm, i think i'll stay and scrape up some cash somewhere else to play wcii some more. 38 still looks plausible, don't you think?
You are most welcome. That was a good move you made getting out of WCII at 41 to get into Fossil. It's ironic; but I made a little 24-hr play on WCII ahead of its earnings announcement last night; and it went up a nifty 2 7/16 today to close at 35 1/8. That was sweet. I may get back into WCII next week after a day or three of consolidation. It appears poised to make a move.
Even if the Nike news does not sprout into public view, I believe Fossil can make it to 38-40 by April Fools' Day. I gaze at FOSL's weekly chart; and I really like the consolidation it made from mid-November until the earnings release. This is a nice 10-11 week base for whatever run we might see.
Sources have confirmed that Fossil's Hong Kong office is working on Nike products. I am trying to find out if they are in production, Fossil subcontracts to various factories in China, most are in the Shen Zhen City area. What is the size of Nike's watch business and any idea what this will add to earnings..
I figure if we all commit not to sell our shares, it'll keep the price up, right? Interesting note previous to yours regarding Nike production. You'd think the company would issue a press release about this when/if it happens.
38 certainly seems possible to me, but FOSL is riding the same momentum wave of other speciality retailers - WTSLA, AEOS, ANN, TOM, and others. Since I am needing to sell my shares sometime this year, I will continue to move up stops. I think my next stop will be in the 33 range since this is the price we tested three times before breaking through this week.
Today's action has been very tight ... we saw a blip over 35 earlier, but right now before the close we're a tad below 35. Volume is a healthy 137,000 shares.
Good luck to you ... and let's hope for a Nike announcement to pop it some more.