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[video] Quick Take: Bling Is Back

Stocks in this article: TIFMOVSIGZLC

NEW YORK ( TheStreet) -- Fear of a slowing housing market may be weighing on investor confidence but consumers haven't stopped buying jewelry, according to TheStreet's Debra Borchardt.

Tiffany & Co. (TIF) reported strong earnings results and raised its full-year sales forecast. The company brushed away fears of a softening China by posting stronger-than-expected sales and even saw an 11% increase in European sales, Borchardt said. Overall, global revenue rose 4.4% to $925.9 million.

Lower metal prices coupled with higher sale prices were enough to fuel investor optimism, and the company plans to open three new stores, in Mexico, Italy and China.

Movado Group (MOV) also reported strong earnings, with a 17% jump in sales and a 59% increase in operating income. Borchardt added that the company increased its fiscal 2014 guidance and expects sales to increase 13%.

Signet Jewelers (SIG) reports earnings on Thursday and should also benefit from lower input costs, she said. Zale Corp. (ZLC) will report on Wednesday. Borchardt noted that there is an upward bias for the stock, with heavy trading in the call options.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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