A deep, long, cup with handle forming base pattern.
NOT a recommendation.
Market remains suspect, though some indices are making new highs.
Hopefully this one will trade side ways for a couple of more weeks rather than try to move up from here, but don't bet on it. Traders and fund managers are antsy and believe earnings and revenues will beat the street estimates and shorts are becoming restless and scared.
Tight, tight handle forming for week number 3.
Precedant movers with near straight up patterns and short handles include: Cisco Systems (CSCO), 1990, Alliance Semiconductors, (ALSC), 1994, America Online, (AOL), 1998.
So, in spite of the ideal pattern of trading sideways, this could succeed from this point.
This base is sound.
Big Boy buying at key points, including at the bottom and on the right side.
Also, orderly selling off the top rather than panic style selling by institutions.
Money flowing into the stock for the most part.
Good trading to all.
Thanks for reading.
D-day, I think the difference between you and successful investors is patience. The stock will go up and the stock will do down. They all do. But you're thinking about tomorrow where as I'm thinking about 2010.
Despite their ups and downs (don't we all have them) this stock will significantly outperform the market in the near, mid and long term.
And you're calling this a coicidence? Hmmmm. Pretty nice, after a full month of going up (your words) I step in the DAY before it goes down (your words). Thats a pretty hefty coincidence don't you think? What are the chances? Wait don't answer that, you have trouble with probabilities apparently or you wouldn't be long on this stock. Oh well, you're hopeless!
Good morning everyone else! Hope you slept well and that you got some of that nastiness out. This is my last post here as I don't think that you deserve my insight. People do pay for it on a regular basis AND they respect me.
So I will leave you now to your pitiful ways. Sad when you can lead a horse to water and it still runs away, only to get hit by a speeding bus. Anyway, best of luck.
As predicted, CRM is making its way down to 18 in an up market. It will get there in time. JMHO. Goodbye for good peeps.
Dr D-day, I imagine a lot of the BS you're getting is due to your condescending tone. You seem to think anybody who likes the stock is putting lock, stock and barrel into it.
Opinions are appreciated when they offer new information. But your assertion that we're a bunch of "gambling addicts" is complete crap. How do you know? You haven't a clue.
If you want respect offer some meaningful input. I/we don't need to be lectured on your investment strategy like we're a bunch of neophytes.
Show respect and your might get some in return.
Nope, no position, just an opinion. But with all of the BS that I've taken in the last day or so, I may stop posting. You would think that people would be open minded. But no, that's classic idiot investor thinking. Stay in your shell, think you're right and get eaten alive by the big boys.
You're all like gambling addicts reasoning and justifying your addiction. Stick with it. Those guys on Wall Street are making million dollar bonuses by getting you rich, not themselves.
As I said you have to enjoy it.
I thought you said in an earlier post that you had 0 position in both CRM and GOOG. Or did I misunderstand you. Your post earlier made it seem like you have shorted CRM.
Your comment Mr. Douche?
D-day. You're a bloody stock market Guru. A genius with your insight should be sitting alongside Bill Gross or even Greenspan. So you say the market will pull back from time to time.
Wow, and to think we gain from this massive insight for free!
No, not short. It's called sarcasm - check into it. People, don't take it so harsh! If you know that this is going to be at $30 in a year, invest your life savings and be HAPPY!
No need to worry. CRM is going to change the world with their technology and they are clearly not sitting on their laurels by now announcing an OS. You have found a gold mine and with a P/E of 200+, it is clearly undervalued.
So relax, enjoy your "investment". And don't beat me up! I have an opinion and that's all. The fact that I called this pull back doesn't mean anything. You know, the sun shines on a dog's.... Keep the faith! As always, best of luck.