While MACD remains oversold short term, the RSI appears to be resuming its move down. CRM remains vastly overpriced, which is most noticeable when the share price is multiplied by 4 and compared to the pre-split price. While I closed out puts I put on yesterday afternoon, I continued to hold my shorted stock shares and expect to hold those shares as CRM's stock price drops more and more over time.
What do you expect in the short run while the short term MACD remains oversold, though the long term MACD isn't oversold?
Dreams of prominence in 2016 and 2017 could turn into nightmares for longs in 2014 and 2015. What are competitors doing in the meantime?
Many posted attempts to push up the price of CRM have failed. Earlier this week there were about 6 repetitions of something that wouldn't escape losses and the stock languished on that news and today's news about a potential expansion in new "digs" as the calendar goes toward 2017. Is there a suggestion that maybe CRM might have the funds to lease all that extravagant space and to expand staff to use the space? I think that some people who have followed CRM for awhile have heard more than enough comments about making money in a distant year while the stock for outsiders has been diluted.
Have a great weekend.
I'm bearish regarding CRM. Even the CEO admitted there wouldn't be any earnings for at least a couple of years. The losses in all categories (GAAP, non-GAAP) have become larger losses.
However, I'm skeptical about the new "bullish" posters. Are they genuinely "bullish" or not?
Actually, I and others who closed out put positions late last week would appreciate getting the opportunity to get puts after CRM bounces. As posted last week, I closed out CRM put position, but I continue to be short some shares which I expect to cover eventually when the stock is much lower than it is now. When a company without earnings and bearish prospects agrees to spend huge amounts of money (they don't have) on headquarters, etc. while there is increasing competition, the outlook is bleak.
I'm neither long nor short HLF, but in looking at the site, I noticed this weird post with a time in the future. I read the heading twice. It's a post for 4:15 p.m. (today) which is later this afternoon (it's just a bit beyond 12:15 p.m. now)!
It has happened before that CRM's high of the week is a Monday close (and it was the same for Friday closes formerly, but not recently). Despite several pumps from financial organizations and "posters" and the late day rally, CRM closed under 54. While closing above the lows of the day, CRM ended below the morning highs. The only conviction CRM has shown recently is to the downside. Today's bounce was off a support area, which will be broken soon, IMHO.
Also, there could be the incentive for this bounce to unload some higher prices (for some stocks) to fill the orders of last minute IRA's which needs to come in no later than April 15, 2014 for 2013 IRA's. This could be a very short delay in the recent market dip. It would be unusual to have last minute IRA deposits be deployed at a good bullish point into funds that include stocks such as CRM. That could also explain today's posts under "new names."
Billions in revenue aren't earnings. Revenues provide working capital. The problem with CRM is they haven't turned revenues into actual earnings. Besides normal working capital and the buying of pr, etc., excessive payments to insiders contribute to no real earnings that benefit investors. That scenario is continuing. The company reported increasing losses. That's clear.
CRM could find a way to distribute possible profits regarding land sales to insiders with the rationale that the money has nothing to do with routine corporate activities.or something like that. Also, though I haven't checked this about the land purchase, but CRM may be in debt regarding that land and also plan to use any money they might get from the sale of land toward a little of their newer office space plans.
Also, what's the purpose of the cloud if there's so much need for office space and even more employees than the company can't afford?
You are skipping some comments and actions that took place when shares traded at 100 and at 122 pre-split after CRM had traded around 130 and 140+ pre-split. At least some shorts covered some or all shares. It's true that I re-shorted too soon, but trading has limited the problems with that. What's important is where CRM is heading since the short covering and t.v. talking head actions have faded. Actually, with the price higher and the quarterly losses continuing beyond where many had expected, among other things, CRM is no longer in rally phase. You are correct that 54 is 216 pre-split. That portends a larger fall for CRM, IMHO. Also, as I type this, CRM is no longer at 54 and may not trade as high as 54 again.
To the pumper who ridiculed me for turning negative on CELG in the 160's and other areas above where CELG is now. I reported that I closed out of one CELG trade with a profit. I have also closed out other CELG and GILD trades positively. That basher may have stayed away or changed to another handle. I'm neither short nor long CELG and GILD now, but I'm certainly bearish regarding CRM. I'm also bearish on WDAY, though I don't have a position in it today.
Will we have a rally between what's started already and the next couple of hours as last minute 2013 IRA money enters the market on the long side?
By the way, this is the rally of the last 2013 IRA money coming in and expected to come in during the next couple of hours. I'm guessing some money could continue to come in after hours since the 2013 IRA money needs to come in on April 15 at the latest and not just by 4 p.m. EDT. I'm tempted to replace the farther out option position I closed out a couple of hours ago, but may wait until tomorrow. This is a gift for longs to sell and for buying puts or shorting, IMHO. The reason is stock that financial organizations (including equity investment companies) lessen their risks by putting the most overpriced positions into funds where IRA deposits are being made.
Thanks. Actually, I have limited exposure and am watching without positions in some high fliers. I have no biotech in either direction with small options exposure to one health related stock that insiders have been eager to get out of. I have no positions in overpriced tech stocks that are small enough to be acquired by other companies. CRM is an acquirer, while WDAY likely isn't, for example. In general, I stick to my thesis that IRA deposits that will be put to work helped push up many stocks and that within a few days the prices of these stocks will go lower.
Also, I don't have any April options and earlier today took profits on options that were too far off (as well as too close) and I'll likely be able to buy the farther out options again later.
There was a reversal on Monday as well as on Tuesday. Will the pattern of down before up repeat tomorrow? Will the pattern reverse with averages starting up and then either holding or going down? Today's late day rally seemed extreme, but I didn't short what seemed extreme, with the exception of CRM and replacing a couple of the put positions in other stocks I had cleared out earlier in the day.
Since you mention a reversal may be underway, I should look at NFLX and other such stocks I've never traded. Looking doesn't mean buying, though.
Thanks for your support.
Why would AGN go up from here when AGN didn't have the correction that CELG and others have had?
AGN is more risky than drug stocks that have already corrected and subject to a damaging lawsuit any day, IMHO. It's more likely that big money will buy dips in other stocks with proceeds from AGN, IMHO.
Perhaps actual and potential longs could donate directly to the charities and get the tax deduction and recognition that eludes them under currently.
Was that a typo? Did you mean 55.20? IMHO, CRM which I'm short, likely hit its high of the week a la the day after a holiday weekend. The fundamentals in terms of earnings aren't there. Instead of CRM, AGN was the unexpected gain for longs. I didn't hold a position, though I had reviewed it. One reason I wasn't short AGN and yet, didn't go long AGN was because several weeks ago, Cramer was against AGN, due to insider sales. Was that a sign to go long? I didn't, but at least I wasn't long AGN. I'm bring this up because even Ackman knows better than to take a long position in CRM. Congrats to anyone who was long AGN ahead of this afternoon. I wouldn't touch it in either direction at this point, though some will.
Though I don't like to see CRM back above 57, I'm now taking advantage of it by replacing a put position I closed out on the prior dip. Based on volume and other facets, such as no GAAP earnings, I anticipate a return to selling such stocks after today's bounce. CRM has bounced into massive resistance on low volume, IMHO.
This is a good morning. That reversal occurred while I was closing out (and taking profits in) my few QCOM puts. I may enter the QCOM puts at a lower strike price than the 80 puts I just closed out, but the CRM break on more positive pr suggests serious selling in CRM.