It's hard to say when that is because these CRM SaaS plays such as this one, NOW and CRM for 3 keep growing revenue and beating softball estimates from the crooks and all have no GAAP earnings but revenue growth is being rewarded although all of these companies are vastly overvalued by any fundamental analysis method.
That said, it only takes one week number or one or two of the crooks firms to turn tail and it is quite possible the run for the exits will be a crowded one.
NOW blew away their estimates and raised guidance for 2014 and gapped up huge. It has been fading ever since but the market has been down a ton too so it's hard to say if valuation is coming into play or if that gap is simply filling (still not filled).
I agree wholeheartedly. With so many red lights flashing, it's a beautiful time to be in the markets - margin debt equal to spring 20000 and equivalent to 26% of all commercial loans, corporate profits 80% above historical norms, Shiller PE at all time highs, institutional investor bullish sentiment at all time highs to name a few. And knowing that CRM plunged 70% in 6 months from June - Nov 2008 provides great comfort. Good luck to you, too.