Wednesday, March 07, 2007

CROX - A Crock of ?

Notable Calls reports on Piper Jaffray and the fact that they are impressed with CROX Japanese operations.

To be honest the first time I saw Crocs in a store I immediately thought of Asia because it looked like a shoe invented Japan. Back in the 60's when I spent some quality time running around Japan I saw that style of shoe everywhere - it was a simple sandal easy to get on and off. Turns out it wasn't and is only now entering that market. Anyway here's the chart and as much as I respect Piper Jaffray (not) I think this is a crock -

This stock, like so many others I've looked at in the past week or so was breaking down before the meltdown. I see a peak week of 02/05 followed by a rebound (which is generally what happens when the previous week doesn't break the EMA) followed by a crashing stock - you can't help but notice the volume pattern. And that was a week before the market melted down. Are we discerning a pattern here?

So saying I also see an opportunity to pick up a couple of quick bucks if you wait for the ATR to roll over and start declining. It is possible you might be able to game a couple of quid out of CROX without the old beast even knowing it happened but keep a tight and trailing stop. If it continues to rise you are all the better but if after a quick buck or two it resumes its falling then you preserve your profit.


JOSEPH said...

I use TC2007 and I like it for scanning but if given the choice I'd rather not pay for a scanning tool. Especially since I trade through Ameritrade and QuoteTracker is free for customers.

Do you know of any "free" software that would replicate TC2007 scanning function?

Yes, I'm frugal!

adam said...

hey, don't diss Crocs, or my son will come find you, lol.

Marlyn Trades said...

Nothing free that I know of - but the one I use is about 30 bucks a quarter and it works for me.

Of course it doesn't have the features of TC2007 such as a chat with the Worden Bros or the CD with all of their tips and hints but you get what you pay for.

The thing I like about stockfetcher is that I can program just about any cockamamie method into it that I can think of and get an output that I can test. As a result I can program in my BOB or tweezer bottom or return to 4/8 and so on and get verifiable results instantly. I know not everyone is that much of a geek but that kind of thing is important to me. I just don't want to do what everyone else is doing. How many Blogs have you read lately that say watch the ATR for a decline and then trade? One and that's here.


Great material