I called my broker about selling and he told me just to hold on. It was his belief that there was a turn-around coming. I guess the smart play is to buy on the downturn. I was watching "Fast Money" tonight on CNBC and the guys thought tomorrow would be an up day for the market. We'll see.
Heard your CROX question on Crammer. He mentioned that he always has some CROX and that you got a hold them since they are in the early growth phase. I agree. Hold on to it.
Also... for all longs, hold strong and buy anything in the mid 40's or below. Will be one of the greatest buying opportunities of the year based on fundamentals and how macro economics. Credit crunch is similar to 1998 and will last no longer than 3-6 months.
RON also heard you on CRAMER.. I own a 100 shares that wish I didn'tbut I won't take a $1253 lost on a stock most people beleave will come back to at least $60. I have sold on the way down thinking I could buy back cheaper , but after the three days I have to wait stock was always up. You don't realy loose unless you sell,I would only take a loss to buy something I like better. If you take a loss just to buy something else, you haveadd your loss to the price you pay for new stock. I haven't found a stock worth that yet
Hate me, but I started shorting it yesterday. However, I'm the kinda guy that will flip back long in a second if warranted. So I'm curious what others are seeing.
I live close to Crox in Colorado and have followed it. While I would never wear them myself, there was no denying that kids of all ages (under 25ish?) loved them.
I was talking to a guy in MA a couple days ago who said the kids there aren't wearing them anymore. That made me think that I hadn't seen my kids in them this summer. So I asked and was told they are "lame" now. I had lunch with my wife at the University and didn't see any at all--so I asked a couple college kids and was told that was "last year." With the market already biased downward, I went short. I still do see lots of them on elementary-age kids.
I would think fashion states like CA and NY, and maybe sun states like FL and AZ would be better indicators than CO and MA. However, I'd be interested in real observations from any state. If you have teenagers or other kids, or go to kid places--malls, movies, schools, etc--ask the Crocs experts (under 25ish) and please give us some honest feedback. In your state, are Crocs still cool? (Warning, cool is not a kid term.) Thanks.
People still wear them. Been in airports all week, and I have seen tons o' crocs. I would like to see some of the other models though since they need to expand. The new stuff they have looks great. I think shorting was the wrong idea as the technical analysis shows that maybe we have already hit close to the bottom if not the bottom, but good luck to you. I wouldn't waste too much time with the short if you see it correcting in any way though.
While I consider this the "soft bash" approach, I'll play along...
Your channel checking may be right. They may be going out of fashion. The company may only have one good qtr left in it. It may wind up at 20 by year end. But, if you shorted yesterday, you are WAY late to the party on the short side if you hope to make any real money within the next 90 days...assuming you can endure the pain as the market recovers. The ~15 points longs endured over the past 2 weeks is going to pale in comparison to shorts who picked up in the last 2 days and try to hold through next earnings.
How anyone can listen to the CC, read the 10Q, see the stock down ~25% off it's high (BELOW it's pre-earnings price...on NO NEWS), and decide THAT is the time to short, is beyond me. Good luck to ya.
I just heard you on Mad Money, Ron. Yes, I think you should definitely hold onto CROX. I almost sold today...the pain was getting to me, but I didn't because I believe in this company. I also believe that the market will turn around soon and CROX will lead the pack!
i held 106 shares last week i sold 40 share at 53 a share. i have not pulled the trigger on my daughters shares yet. i want to buy back my 40 shares now. when do you guys think i should buy those 40 back
Yes Ron - you should hold. I am sick because I don't think I'm going to be able to hold onto my 4k shares. If things don't turn around tomorrow, I will have to sell at least 3k in order to meet margin call.
I only pray I can sell above $50, so that if we get some steep dips I can buy back a decent quantity. I *do* think there will be further drops, and I could see CROX hitting $42 or even $40 for a brief moment. Not a doubt in my mind that we will see it at $60 when this insanity ends.