Tuesday, June 24, 2008
Market's been brutal lately, but today's slightly positive for me. Today's move hardly helps, but I guess every little bit counts. Picked up a block of American Eagle Outfitters (AEO) at 16.01. As much as retailers are hurting, I don't quite believe that AEO should be trading where it is trading, especially when considered relative to its peers. Anyway, this is a medium-sized position, and I will play it by ear. If it moves quickly against me, I am ready to take my losses.