I just added back some more of the short position I'd covered earlier this week. I still don't have as large a short position as I did earlier this week, but I will because at the very least yesterday afternoon's gap up will be filled. More likely, there will be massive institutional selling because there are so called "red flags" in such items as the increasing gap between non-GAAP and GAAP. This is not a start-up company. In addition, there is accelerating dilution as more shares are given to employees in lieu of cash payments. IMHO, CRM has made a double top. Whether or not there's a split (which hasn't been voted on yet, as one poster forgot), there wouldn't be an increase in total stock value. Also, the stock more than prices in lots of value that isn't there and won't occur.
Some of the gap up could be due to short covering after hours, but those shares are likely to be shorted by hedge funds and other "big players."