Crocs Inc. (NASDAQ: CROX): You normally want more of a volume increase to call a valid breakout and so far I’d call today’s volume hesitant. We’ll have to see how we close. It won’t be surprising if the stock hesitates or falls back into the base before earnings are announced at the end of next week (probably). But it also won’t be surprising if a major short squeeze erupts on the earnings news, assuming of course the company is able to beat estimates, raise guidance and not issue any serious concerns, such as major production or distribution problems. Cheers!
Just a quick update on my Rat Leaves Stinking Shit post on the White House Press Secretary shuffle. Well, the news is out and it looks like W. picked a winner, at least judging by his name (Snow) and background (Fox “News”). I mean, WOW the Saturday Night Live and David Letterman writers couldn’t dream of an easier softball pitch. We are talking right over home plate. Letterman’s going to have to expand his top-10 list to at least 20 to cover all the punch lines here!
The above chart of Crocs Inc. (NASDAQ: CROX) shows an upward-sloping handle (see purple highlight on chart). Ideal handles, however, drift downward on light volume, possibly with a high-volume shakeout or two. The handle did have one 1-day shakeout on the highest volume of the handle a couple of weeks ago, but it’s questionable whether or not that was enough given the fact that weak hands have not been cleansed by a downward-sloping handle. We’ll see. In the meantime, click the continuation of this post for one of the many recent articles on Crocs appearing across the U.S. and internationally in the past couple of weeks. Also check out the 18 April article in the LA Times I mentioned the other day. It was syndicated nationally over the past week and weekend. Cheers! PS: Click here for an index of all of my recent CROX postings.