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Charts courtesy of stockcharts.com

Monday, August 10, 2009

What A CROX!

CROX is one of the all time classic crap stocks that was the darling of the IBD 100 during much of 2007, then collapsed into a quivering heap during the bear market. It has been making a move since the March low, and actually formed a base. Friday it broke out on a gap up, which was rather lackluster as it came under intense selling pressure.
Here is the 10 day chart. As it turns out, that intense selling created an ideal buying opportunity, as it followed through big time today. The fact that it hit a "new high" today is a joke, as it's 2007 high was about 72.

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