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October 10, 2012  Wed 7:32 AM CT

TRLG: SEE CHART GET CHAIN FIND STRATEGIES

Apparel Company Forms Special Committee

True Religion Apparel said it’s forming a committee to explore selling the company after receiving interest from potential buyers. The board hired Guggenheim Securities as its financial advisor. TRLG rallies 23 percent before the bell on my tradeMONSTER platform.

Helen of Troy Misses Estimates, Lowers Guidance

Helen of Troy earned $0.72 a share in its second quarter on revenue of $287 million. Analysts had expected $0.85 and $310 million, respectively. Management also cut guidance, citing a “continuingly challenging retail sales environment.” HELE drops 8 percent in early trading.

Cummins Plans Job Cuts As Growth Stalls

Cummins lowered its full-year revenue outlook to $17 billion, down from previous guidance of $18 billion, because of weak demand. The maker of diesel engines now plans to close factories and lay off 1,500 workers to save money. CMI drops 4 percent on the news.

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Education & Strategy

Sweet Spot Exceptions

As discussed last week, when using the Stock Replacement Strategy to replace a stock position to trade direction, we want to use an option that has very similar characteristics to the stock. We talked about using the deep in-the-money, 80 to 85 delta option that is similar in the Greeks and has relatively little extrinsic value which tends to work against us in stock directional trading.

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