"They're ugly, they're hideous, but they can make you money." Bryan Bottarelli, Head Trade Tactician, Monument Traders Alliance Last week I wrote about the $65 water bottle craze I saw while in Switzerland. This week there's another retail stock I'm seeing everywhere. Crocs (CROX). Have you heard of these shoes? They're ugly. In fact – they're flat-out hideous. However, they're selling like crazy. Someone in our slack chat even told me he owns a pair of "SpongeBob SquarePants" Crocs. So despite the poor aesthetic, I believe CROX could make you money. As you'll see in its chart above, CROX recently gapped down in what looks like a classic overreaction from Wall Street. Now it's starting to fill the gap back up. I love the possibility of a gap-fill up to $95. At the time of this writing, CROX is sitting around $83. In addition to its potential gap fill, smart money is also paying attention. Over the past 2 weeks, the CFO and Director of CROX bought a combined $400k worth of shares of CROX. And as my colleague Karim Rahmetulla says – insiders only buy for one reason – they think the price is going to go up. |
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