While I will never wear the popular shoes made by CROCS Inc. – CROX, I will trade their stock. Somebody must be buying these multi-colored shoes with holes in them. The stock has been on fire the last five weeks.
CROX triggered a BL2 buy signal on the 5-minute chart as noted. I was filled a little higher than I wanted at 37.96. The stock popped too fast, and I ended up chasing it.
With my execution being higher than I wanted, I decided to use the bottom of the breakout bar on the 30-minute chart as my stop-loss point. This made R equal to .20.
Half the shares were sold at 38.34 locking in some profits. I moved the stop to 37.99 at the same time. The market gapped higher at the open, and was drifting. I wasn’t going to turn a winner into a loser. CROX was later stopped out.
Gold and oil stocks act like they want to put in a bottom, and closed strong. I’ll be watching those sectors, and two ipos tomorrow for trading online.
