Last week my friend Matt brought to my attention yet another big drop in CROX, the ugly rubber shoe company and I was thinking about when I tried shorting it a while back. I first took a position against the stock in late 2006 with the CROX October 30 strike puts ($15 split adjusted). Talk about being in the wrong place at the wrong time. This trade reminds me why charts are so important, I was dead right about the over valuation and the future of the ugly rubber shoe fad. If I had gotten short the stock I'd be up now as it made a new all time low last week. That would have been being in the right place at the wrong time. But with options its all about the timing, if you have the timing wrong you have it all wrong.
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