Monday, November 5, 2007
Crocs Chart & Lesson
Boy did all look rosy for Crocs s of the close Oct 31 (Halloween). Fresh new all time high close, could it get any better than this ! A lot of big winners in this stock have now been transformed into big losers, or as some might say a cold bucket of reality splashed on the situation. We have seen this play out numerous times before. As Sean Connery said in the movie 'The Untouchables'.....What are you prepared to do?
Don't get blindsided, make sure you admit to yourself first what you are doing if you are not trading technicals or fundamentals, that is, you are purely playing the 1-armed bandit (slot machine) so don't fool yourself. Some might consider my comments the ramblings of a disgruntled short seller of Crocs who missed the big plunge. To them I say, enjoy your winnings for a fool and his money are soon parted, that's assuming they were lucky enough to get together in the first place.
Good trading to you all.
Note: As I post this Clean Energy (CLNE) is breaking out of the pennant noted earlier. Going long 1 unit of CLNE at 18.85. Volume is light (suspect) but price is paramount (as the missed OIH trade for lack of vol. taught us) so 1 unit should suffice.