What a Croc! CROX is looking up.

With my summer internship coming to a close in the next few days I am able to turn some attention back to the markets. Oh how I have missed them. Unfortunately I have also committed one of the cardinal sins of investing in the process. I ignored several of my holdings during my very busy and very important summer. A few of them turned and I have given back some gains. But no use crying over spilled milk. Time to earn it back!

CROX - Yep Crocs. Who woulda thought this company would be making a strong push. 

Crocs is the maker of foam rubber shoes. It peaked about 6 years ago and has been falling off in the US ever since. So why on earth would I be thinking this stock is ready for a move upward? This is purely an international play. Crocs makes inexpensive shoes that are becoming more and more popular in several of the warmer climates in the world. Fortunately their shoes are also durable, and inexpensive. With the expansion of the Crocs line into several fashionable styles there prospects are looking quite good.

The chart also paints a very good long term picture. After falling from a high $20s price point last October the stock has found a strong support level while at the same time breaking out of a recent channel creating upward momentum on the chart. This coupled with CROX raising its guidance for next quarter paints a picture of a stock headed in the right direction. I'm calling this one back to $20 in the next several months. 

I have put in an order for a Jan 2014 $20 Call option. We will keep an eye on it and see what happens!

Thanks for reading!

Straight from the Chart 

Disclaimer:
Just to be clear, nothing that I'm posting on this blog is in any way advice that should be followed by anyone else. All investment decisions should be made carefully by all individuals taking into account their own financial situation and appropriate levels of risk. Do not take anything I say for anything more than it is, opinion, speculation, and woefully undereducated guesses as to how I think a few stocks are going to perform.