Steve Scott

Why I Bought and Sold Buckle on the Same Day

I'm sure you've seen this happen before Bob. Buckle has moved from low 14's two weeks ago to high 24's yesterday. I took profit on 1/3 of my Buckle holdings yesterday and plan to buy them back (and more) after the profit taking is done, hopefully below 20. This is a great company with lots of cash and tremendous growth prospects in front of it. The oversupply of retail space in the US is presenting them with huge opportunities to take over some of the best locations in malls all over the country. This is a stock to own for at least a couple of years but, like everything these days, there will be volatility and trading ranges. I actually expect that Buffett has his eye on these guys.