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Abercrombie and Fitch (ANF) on steady climb up

|Includes:Abercrombie & Fitch (ANF)

Abertcrombie (NYSE:ANF) has suffered through the Great Recesion, and now is benefiting from the recovery.

Of course there are plenty of retailers doing well. This one stands out because the store is so appealing both in numbers and aesthetics.

Recently I visited the Abercrombie flagship store in New York City, on Fifth Ave.
What an incredible experience. Aside from the deafening music, which evidently their customers like, the merchandise displays, the store staff, and the product on display was incredibly well done.

It was a very busy, perfect, satisfying experience to be inside that store, and their sales numbers have been backing up the impression. Happy customers, happy sales people, beautiful product offering

The stock has doubled since last year, and is now trading at its 52 week high, but there does not seem to be much downside. It is perhaps getting pricey at about $47, but there may be a pullback coming if the general market dips, which could provide an entry point.

Also consider selling $35 puts for October 2010 or later. In my opinion, that is a very conservative bet that will pay off.

Disclosure: Long

Stocks: ANF