A beating is perhaps a shade strong. Today was not like an Enron “what the hell just happened” beating but today was enough that I almost titled this post: “The @*#$?! Sky is Falling”. By the end of the day Garmin, Crocs, and Sandisk were all showing red in my account. Crocs was the blue ribbon loser for me today, down 2.82%. Sandisk was a close second falling 2.05% and Garmin tried its best to suck today, down 1.49%. The small sliver of a silver lining was that Garmin stayed above where I bought them the other day. (That small positive note is courtesy of my wife, she always seems to see the bright side of things. With us going on three years of marriage I guess that sunny disposition has rubbed off on me some, probably when I wasn’t looking. )
After the beating today it will be interesting to see how they fair tomorrow. SNDK has earnings next week and CROX should be announcing shortly. What happens in the next few weeks will dictate what I end up doing with those two. Garmin doesn’t show its hand till February 14th. I still don’t know about them, a few of those GRMN shares may end up being carried as a long(er) term holding. It seems that GPS navigation is almost to the point of “have to have”. You know kind of like cable TV. (wink, wink)
Remember having to get UP and change the TV channel, getting letters in the mail from far away friends, and having to finally stop to ask directions when we were “almost” lost. My how cool companies have changed our world.
That’s it for today. Here’s to the market not punching too hard tomorrow and to keeping an eye on your EveryDay Money.