True Religion held their conference call last night.  Hands down their most professional call so far.  Very impressed with the numbers, even more impressed with the prospects for the 2nd half of the year!  Love when Buckley talked of the store within a store concept, much like what Diesel has.  Would love to see that.

The third store opening for the company in 2006 will be an outlet store in LA, which will provide the company with higher margins on those products.  Great news.

The best news though:  the Goldman Sachs rumor was confirmed.  They have been contacted to add shareholder value.

I'm convinced in this company now more than ever.  I did however sell approximately 30% of my position.  Not because I have lost faith, but rather to diversify.  For the past year, TRLG has accounted for anywhere between 70-90% of my holdings.  I am hoping to scale it back, mainly because of the high price swings.  I will look to get back in before the end of Q3.

With the proceeds, I purchased Starbucks 35 January 2008 options, as well as doubled up on my Apple position.  I also purchased some USO, the oil ETF.