CROX actually has a product and recognizable brand With a market cap of 1.4 B it brings in over 800million in revenues annually, Over $5. book value has 36 million cash on hand. Large percentage of the float is Institutional and with that kind of past following many Institution will be looking at it here. Unlike Heelies which I avoided buying for my kids My whole family has CROCS I Like them.
As to short they have a lot of the float but a lot of them are very comfortable I would guess we might be able to count on less than ½ day worth ( 3 million shares, plus day traders) . To get this off the matt requires buying not a lot as we have seen but money entering from the sidelines few institutions familiar with the fundamentals and cash on hand .
Today’s action I read as mostly stop losses @ 17.70 seems to have trigged a third of the days volume in 15 min. Having been caught with my hand in the cookie jar here is my strategy to minimize loss: A) Day trader, carry trade gone wrong rule, wait 3 (5min candles by then most over night orders and morning orders are digested. Place stop at low or sell. B) CROX has several levels of support (and is basing it has made a higher low) 17.03 (weekly uptrend ) Bottoming candles close 17.47and low 16.62 low ( it’s higher low )and the yearly low 16.
My plan if a third of the days volume materializes again in the first 15 min it’s capitulation and the stops go on the yearly low because if it sticks, it’s a bottom . Low volume could open anywhere but I think a lot of the selling is out. After 3 candles half the position will either be sold at market or stops placed at the 3 candle low. Remaining ½ position probably give some room on stops to a double bottom attempt. If it survives I make the loss after a point and a half above entry since I feel it can take 20 which gives it some wind into 25.I’ll give it a shot. IMHO
Market Data 
Markets 
AI
