Crocs and Garmin: When Times Were Simpler

Allowing for a bit of nostalgia on this cold November Friday leading up to Veterans Day, the cyclical bull market seen last decade from 2003 until 2007 was a rather enjoyable time. 

It was a time most equities' traders had not the slightest of what the phases "Credit Default Swaps," or "Mortgage Backed Securities" meant, pre-financial crisis. And it was a time when equities were steadily moving higher against the backdrop of some semblance of normal monetary policy despite a post-Dot Com and post-9/11 world. 

It was also a time when Crocs and Garmin were among the hottest stocks trading. We profiled GRMN's resurgence earlier this week. But what about CROX?

Well, you may be surprised to learn that not only CROX is sporting a chart making a comeback but also a few of its footwear buddies in an otherwise dreadful retail sector. 

On the CROX daily chart, below, despite initially selling off after an earnings beat this week Crocs is right back near recent highs in the context of this intermediate-term uptrend. Longer-term, CROX has been mired in a steep downtrend since 2011. 

However, with a move over $11 into the holidays now one can see the potential for a major inflection point of the bullish variety. To be sure, GRMN is further along technically in terms of former hot leaders which went cold, now trying to wake up again. 

But CROX is part of a group of resurgent footwear stocks, all acting well of late, which compels me to consider whether a slew of M&A deals lurk right around the corner.