Look at all the selling and shorting yesterday before earnings came out. The selling and shorting picked up after GS put their price target at 65 with a conviction buy today. Not saying that it won't see 60 because with all the liquidity in the market there are plenty of stocks that are in bubble territory. The big brokerages are receiving much of the QE and using it for trading so as long as they pick your stock as a long, you will do fine. Hopefully for you longs CRM is one of those that they plan on taking higher.
sadly, it will close on the low of the day. Shorts banging the hell out of it and long idiot Hedge funds too short term to know which end is up. No wonder they perform so miserably year in and year out.
I hope so, your told the board don't worry about purchasing when it jumped up to $58. How many did you buy when it jumped up?
I don't know if it will collapse today, tomorrow or next year, but this will collapse.
I would never purchase (long or short) CRM. It's a game controlled by deep pockets. Longs have no idea where its going (it's already 3 times what it should be value at), the shorts have no idea where its going (its controlled by a handful of funds that push the price where ever they want).
Everyone screams why its going up and going down. Up has no argument, but they have been right. Down has great argument, but stock keeps going up.
When this stock corrects (which it will do) it will be ugly.