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  • catalyst121 catalyst121 Apr 10, 2013 5:17 PM Flag


    Does CRM jump 2% on no news, but when it goes down it inches 0.5-1% at a time?

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    • The 30 day (recent) chart indicates the three days with the most volume were down days. The bounce at the end of regular hours left CRM below where the "ask" has been in the mornings. When there are no takers for the "ask", CRM sell off to the "bid" and continues to go down. Today's highs for CRM are likely to give way to lower prices, as has been the case even today, in after hours trading.

      Maybe the stock price is being held up here to give "cover" to funds that are long CRM and intend to put incoming IRA money into those funds. Maybe it's another reason, but reasons don't matter. Prices matter and CRM's prices have been trending down. I'll be looking to re-short some stock. Though I'm short stock and put on options today, I covered a little yesterday afternoon, added those shares back this afternoon, and then covered those extra shares shortly after regular hours when the "ask" dropped along with the "bid." I'm still short most of my core position. If not tomorrow, CRM will trend down more significantly next week (if not sooner). Would that have something to do with getting last minute 2012 IRA contributions in at the top?

81.94-0.61(-0.74%)3:22 PMEDT