I believed that the company would beat estimates, and they did. I believed they would raise guidance, and they did. I thought I could make a little bit of money riding this stock, but I never in a million years thought it would be so illegally manipulated like this.
Now 10 years of savings is gone in a flash. Just because some Wall Street assholes decided to illegally manipulate the stock price.
u forgot to figure that the stock has gone up from $42 last quarter to $76 .. i.e. $34 aprreciation.... did u EVER scratch your head and wonder WHY is it going UP on NO news??
then came the news .... they marginally BEAT estimates.. BUT the biggest problem came in the 300% increase in INVENTORY.. AND their IN LINE guidance...
U see.. the $35 rally in the stock from August to November was built on expectations that the numbers will be GANGBUSTERS.. instead they came in tepid.. or just in line.. so.. the stock just came back to its August levels..
Now.. it STILL must reconcile the INVENTORY BUILDUP.. which per my calculations shoould chop off another $10 from the stockk... so we will see $30-32 soon..
then maybe.. just maybe it might warrant a long move.. until then.. stay AWAY or stay SHORT
yeah, it must be "illegal". Why's that? because you lost? Have you ever heard the saying "sell the news"? When a stock has a run up like CROX did, and an earnings report is coming up, get the hell out of the way next time.
Illegal. Good Lord. If you think you were so screwed then go get a lawyer and try to sue someone.
Well I guess you learned something. "Markets will do whatever it takes to hurt the most people and to invoke the greatest amount of pain possible." I am not giving you crap. I am overall up for my Crox positions. Like everyone else I have taken a big hit on my profits. But I am not crying about it because I did not risk more than I feel comfrotable losing. About an hour ago I bought 500 shares and then again another 500 1/2 hour ago.
your loss is only on paper. invest in fundamentals. the company will shoot back up the next Q. their product lines continue to expand and are hot sellers. croslite is patented and for asian and european noveau riche, knock offs just won't do. it's hard to look at the computer screen on down days like this, so simply stay away from it and watch a dvd or go to the mall. we shouldn't be bothered by the day to day stock fluctuations.
listen to the conference call. it will help. This happens to the best stocks in the world. It is not uncommon. I took a pretty big hit. I am nearing my break even point as we plunge lower. Hopefully my time frame is long enough. I have a at least a year before I need the money.
I think the biggest thing that upset me was my dreams money money were all gone in two days. How well. keeps you humble. HOpefully you learned a lesson from all this. When there is lots of hype watch out. I know the fundementals were there but the stock was just too high. It was due for a correction but not the one it recieved. 10 to 15pts would have been the name of the game.