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The Emperor Has No Style - True Religion Will Disappoint Someday

|Includes: True Religion Apparel, Inc. (TRLG)

TRLG Will be posting earnings tomorrow and while I know that this is anecdotal, and very difficult to forecast one quarter, I have to say that if I could get short here I would.

Every time I walk by their store in the mall there is no one in there, and more importantly, their styles always look the same. I know that you aren't supposed to bring an opinion on style into an investment decision (I wouldn't't have believed they could have sold as much as they have so far) but I have to say that personally, I think the clothing is not only over-priced, its boring and unfashionable.

They were cool and small in LA when they started, then they got really famous and trendy and now that trend has flamed out and they don't have the creative team to deliver another hit product. This has happened to many companies, many times before; it's called being a one-hit-wonder. There is no Steve Jobs of fashion at True Religion.

They just happen to be sitting on a mountain of cash which makes it dangerous to short them (limited downside).

These are just my thoughts, not a recommendation.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in TRLG over the next 72 hours.

Additional disclosure: I have no position in this security, but if the price went low enough, I would buy it. Like I said, they have a lot of cash.