The longs and shorts both lost their shirts on this jeans company

Let’s do this week’s Trading With Cody Subscriber Live Q&A by keyboard in the Chat Room at 2pm ET. I’ll be live in the Chat Room and ready to to go! Post any questions you have in the Trading With Cody Chat Room or just email us at support@tradingwithcody.com.

Meanwhile, I just spent the last hour searching the Internet for that time I once wrote about why you should short True Religion Jeans, which filed for bankruptcy today. The only mention about shorting True Religion that I found was this, from 2005:

• A few weeks ago, I happened to see someone wearing some True Religion jeans walking down the street, and I thought to myself, “This trend is dead, and you need to get short True Religion.”

Called it!

Or not quite…to be sure, if you’d actually shorted True Religion when I called the top, you’d have lost money because even though I eventually turned out to be right, that it was a trend which had topped (about the same time everybody on ABC’s “Lost” was wearing them) , the company was eventually taken private at a higher price than I’d thought about shorting it. I never did short True Religion, but if those who did lost their shirts. Meanwhile, TowerBrook Equity, the company that took True Religion private just four years ago before having to file bankruptcy 1000 days after they closed that deal, really lost their shirts (pants? jeans?).

Make sure you read my report from yesterday about The Voice Revolution. And I’ll see you at the chat in a couple hours.