Cubes Update

Qqqq200653
Just a quick update on the Cubes (NASDAQ: QQQQ), which is showing a potential reversal formation, as marked on the chart: Point 1 shows a correction from the April highs, Point 2 shows a failed rally attempt / test of those highs, and Point 3 shows…


…a break below the lows at Point 1 and below the 50-day EMA and thus far a failure to rally back above those levels. This is a warning sign. Cheers!

PS: CROX update coming tomorrow (got to get the wedding invitations out tonight!). I will note that a 13,200 share block of CROX crossed the tape in after-hours trading at a price of $31.45 per share (at the time the bid/ask was $29.79 / $31.49). This represents a $415,140 trade on the ask side. That’s also the largest block trade I saw today and I believe my time and sales window was open all day. See below for my time and sales window filtered for blocks above 10,000 shares. Note, the window was open all day today, but not necessarily all day over all the prior days you see.
Croxtimeandsalesblocks200653

CROCS INFO:
Index of CROX postings
Crocs on Amazon.com

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One thought on “Cubes Update

  1. Won’t be able to access this site tomorrow, so I’ll ask this now – What do you see happening tomorrow with regards to earnings, given the recent run-up? Do you believe a beat of analyst expectations is already factored into the price?

    Reply from Chris: My personal best guess, which is worth absolutely nothing in the market, is that at least a small upside surprise is already baked in, but not a HUGE upside surprise. In addition to the amount of the earnings surprise, the stock’s reaction will depend on the conference call and if any red flags get thrown up there, such as major supply, demand or distribution problems, more competition than expected, out of whack income statement or balance sheet items (poor margins or inventory problems), or any other warning signs. You know that my bet is on the long side. We will see. Cheers!

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