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salesforce.com, inc. Message Board

  • tahoe_kj tahoe_kj Apr 23, 2013 11:21 PM Flag

    Anyone else short PNRA pre-earnings?

    Sweeeet!
    Reality is about to smack this market across the face.

    Sentiment: Strong Sell

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    • i did. 1100 @182 - covered ah at 169.66... short crm 6600 at 38.00 waiting for low 20's

    • Can you shed a bit more on why or what led to a PNRA short pre earnings in the face of and after what CMG did? And did you short CMG as well?

      Sentiment: Sell

      • 1 Reply to robynrokn
      • Sorry Robyn, not intending to mislead with the title, I started my short position in PNRA on April 10th when it tried to hit $185 and failed. To me the market is tired, and PNRA is already quite overvalued. I don't think the market is paying attention to the reality that people are geting hurt by tax hikes in 2013, sequester, and gas prices still very high. PNRA is a luxury, not a necessity. I view it as fad-ish. I wasn't expecting a horrible Q but a cautious outlook for 2013...pretty much exactly what happened. They reduced outlook actually, which was only 4%-5% groth to begin with. CMG is a momo stock, PNRA has been also, but not enough volume to sustain it and allow graceful exit by big money. I think it trends back down.

        Sentiment: Sell

    • I was afraid to short PNRA going into earnings even though I didn't take the recent raised target seriously. However, I had started a small put position on AMGN (110 puts) and will decide in the morning whether to take the small profit or wait since expiration is over three weeks away. I may take the profit Wedmesdau and re-evaluate the situation after that. The way PNRA moves multiple points at a time, I hope you are closing out your position in the morning (unless you already closed it) in case PNRA bounces later this week.

 
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