HOW DID CROCS GET THEIR STOCK TO DO SO WELL
                                      WHEN THEY WERE SELLING SO MANY SHARES?           

                  Provided they report them, it is not illegal for company executives to sell their shares in their company
           unless they have insider knowledge about a company's prospects that has not been made public. Executives
           who knew about an impending decrease in sales that had not been publicly announced would not have been
           allowed legally to sell their shares in order to get a higher a price.   

                 Three lawsuits claim that Crocs took advantage of non-public information and sold off 963,000 shares.
           The class action suit alleges that the insiders knowingly made misleading statements about their company
           in the months before the third-quarter announcement.  Lawyers are offering to represent shareholders who
           bought at prices in this period which were articifially high and subsequently lost money.   Such lawsuits,
           whether merited or not, put extra pressure on the company's stock.

                        WOULD TIGERSOFT HAVE SPOTTED THE INSIDER SELLING HERE?

               Here I look closely at the stock from a TigerSoft vantage point.  It is difficult to detect what we would
           call insider-inspired selling.  As you can see from the chart below, the stock's Accumulation Index,
           OBV (aggressive buying) and ITRS (relative strength) were all positive until the sudden break in prices.
           The only warnong was the one day drop back to 66, the point of breakout.  This was a larger decline
           than was ordinary.  It would have given a large seller a chance to take advantage of bargain hunters
           who often congregate their buy orders at points of breakout like this.  This occurred on 10/22/07. Volume
           on this day was 5,742,800 shares, much higher than the 3,852,100 the day before and 3,194,800
           shares after.  This was "distribution".  Such a decline uses up that buying power at that pullback point, so that
           it will probably not be available on the next drop by prices to that level.  This type of decline is a subtle warning.
           The levels of Accumulation, as I said, do not show tell-tale signs of red Distribution.  But they also, do not show
           levels that were so positive as to reliably predict such a good move, as from 30 to 70 between April and October.
                     
          
             CERTAINLY, TIGERSOFT USERS WOULD NOT HAVE BOUGHT THE STOCK

                       We would not have been interested in Buying this stock, except possibly as a 10% quick
               trade at the flat top breakout in September.  There were no bulges of Insider Buying to attract us.
               In addition, retailing stocks were weak and weakening through most of the year.  You can see
               this by examining FSRPX - the Fidelty Retailing Sector fund, shown below.  Our Hotline emphasizes
               being in the strongest sectors, if we choose to buy a stock that does not show significant insider
               buying.   As you can see from the chart above, the Accumulation Index never approached +.5.
               Much of the decline in CROX had the effect of making it fall back in line with other retail
               and apparel stocks, where bloated inventories are causing big sales.
           


                             CROX   Follow-up - 1/18/2009

              A year later, the stock is far below $5.   Investor confidence once destroyed does
       not quickly come back.  Heavy and sustained red distribution took place here BECAUSE
       insiders knew the stock was "a house of cards". 

        CROX  - See the deeply red readings from the Tiger Accumulation Index
         and the Tiger COP indicator.   Insiders were unloading the whole way down. 


                                  BWS - Brown Shoe Made A Better Short Sale
          It also showed massive insider selling.  But there is no law suit against them.

                     Brown Shoe, in the same industry, showed even more Red Distribution, reaching levels
           we call "insider selling".  We have posted this company as a suitable short sale for the last six months
           in our Tiger Elite Report.

         

                    Here are BWS's Insider Trades of more than 10,000 shares for the last two years.In 2006, insiders
         bought 27,500 shares and sold 120,900.   In 2007, insiders bought 16,000 shares and sold 393,500.
|        The red distribution reflected the overwhelming selling pressure created by insider selling.  Others noting
         their selling undoubtedly got out, too.   (Source: http://finance.yahoo.com/q/it?s=BWS )

          

                     Other shoes stocks, Steve Madden (SHOO) and Skechers (SKX) are down steeply.