Sold Naked Puts

On 8/17/2011, CROX was @ 27.3 and I sold 7 naked puts.
Sept 23p @ .60 x 7 to collect total of $420 credit.
If CROX price drops below 23, I want to buy 700 shares of CROX
at the price of 23 will cost $16,100 and I would keep the $420 premium collected.  
If CROX price stays above 23 by Sept 17, I will not purchase 700 shares
but I will keep the $420 premium collected.

Technical analysis conclusion:  CROX price will drop further to about 21 before going higher than its resistance of 30.
1) Bearish head and shoulders is labeled in the chart above of CROX one hour chart.
2) Lower highs and lower lows is a downtrend.
3) Price broke below the purple trendline.
4) Fibonacci pull shows retracement rally to 2/3 at price 29 is setup for a downward Wave 3.
5) When all 3 moving averages came together today, it is a sign of a bursting price move in either direction.

If the price move is down, I want to buy shares and keep the premium from selling the puts.
If the price move is up, I will keep the premium from selling the puts and watch for a retracement down to buy more shares.