Sell Cadre (CDRE)
While the Iran/Israel conflict seemed relatively contained over the weekend, commentary today has stoked concerns that the conflict could still widen. That, combined with rising yields and a market that was somewhat primed for a pullback, is putting downward pressure on many stocks today.
We’ll heed the action by letting go of a couple positions that were downgraded to hold last week.
First up is Cadre (CDRE), a security/defense name that I would have thought could benefit from an uptick in geopolitical risks. But shares took a couple steps down over the last two months, and with no bounce and a price just a touch below our entry point, we’ll step aside today. SELL
Next up is Crocs (CROX). This is pure profit protection as I think the story is good and today’s headline March retail sales number came in ahead of consensus. However, a number of strong consumer stocks have taken a hit lately, and with a 20% gain and CROX sitting right on its 200-day line (a break lower could really sting), let’s be conservative and book the gain. We may be back to this one. SELL
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