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The reason? While other brands have been heavily discounted this holiday season,UGG Bailey Button Boots, which can cost upward of $200 a pair,Kid’s Classic Tall Ugg Boots In Red, are selling at full-price in most major department and specialty stores. More full-price sales mean fatter profits for the all-important fourth quarter.”

It’s all very exciting but I think investors need to be very careful. UGG Bailey Button Triplet Bootss account for nearly 90% of Deckers’ revenue, far outshining their Simple and Teva brands.

A bet on Deckers is a bet on theClassic Tall Fancy UGG Bootscontinued success of a pretty bizarre fashion trend — at 50 times earnings and more than 5 times sales.

It’s easy to be bullish when everything is going well, but traders UGG Bailey Button Fancy Boots will be dumping this one like they dumped Crocs (NASDAQ: CROX) at the first sign of slowing growth.

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