CRM appeared to bounce off support (50 dma) . At first I thought that might be where a computer is set, It's possible it will take heavier downside, shorting, selling pressure to counter a low volume computer based "buy." Downward pressure could come in now that CTXS has warned and more discussions of CRM flaws have been disseminated. Insiders of all companies generally don't want their company's stock to drop, but stock prices move according to fundamentals and untainted third party. Economic disruptions and prolonged periods of no real earnings are some of the ways stocks have dropped below technical support levels. The move to support can rapidly turn into a rout, especially when many longs hurry to sell and potential shorts grab their short positions.
I admit that I am one of those waiting for a breach of support in order to build a larger short position.
I'm waiting with the expectation of another bounce, even if the bounce is soon reversed. The market in general and the economic background may influence how soon the break comes.
You are right and CRM will go down from here. I just wanted to commenbt that the post you replied to is from last Wednesday. I'm not going to check the outcome of following that advice last week. Are you adding to your short?
It appears that people who heckle instead of trading and investing repeat comments that have been refuted many times. As I posted many times, including recently, the CRM shares I shorted under 120 I exited just above 120 (pre-split) along with shares I'd shorted as high as the 130's and upper 120's (pre-split). Anyone who makes that charge now appears to be someone who's here to heckle and isn't familiar with the price movements of CRM.
I had re-shorted starting at 117 (actually I think it was 119, (but I'm not going back to check the exact number now) after covering on a dip under 100. After covering, I started shorting again. After adding to short position on the way up, the stock sold off again. Now CRM has rallied much higher and there is more money to be made on the short side.
Please post your history in trading CRM or SHUT UP! Anyone who's had experience raising children would agree that you need to "go to your room" or something similar.
If you had been long calls (instead of puts, as I was), you would have lost money. Do you have to criticize everyone who made money, but not the maximum possible in order to sound superior, when it's likely you didn't make any money while CRM dropped?
I didn't cover my core shorted stock position though and even added to it around 50 today. I don't have time value to lose will have opportunities to re-start an options position in CRM. Now I'm more concerned about holding and adding shorted stock while it's still available.
Could it be CTXS's warning? Actually, CRM appears to have a distance between bid and ask after hours. I haven't looked up the magnitude of CTXS's warning. I doubt CRM and executive bravado would ever lead to a warning.
An upcoming IPO will distribute shares from existing owners. Why should lack of loyalty by inside holders matter to CRM? The company that will be an IPO soon uses the CRM platform. Do insiders believe growth has peaked (growth they've reported is in terms of revenues) and does that mean loss of business for CRM?
After closing out my CRM puts for two dates, I'm glad to see CRM going back above 50, but haven't figured out where to replace those puts or the strike price. I closed out 52.5 puts and will likely wait to see if we get closer to 52.50. I'm out of biotechs also. It was a wild morning. The question is whether or not there will be institutional selling/shorting later today or not. IMHO, CRM isn't a buy here because the sell/short pressure is building up and will build up more if we get to 52+. I expect the pumps to have a different viewpoint and expect new highs.
There are no GAAP earnings and there won't be for at least a few years, if ever. As long as key insiders get stock for very little money and can sell those shares at market prices, don't expect insider executives to admit it's non-profit for outsiders.
Where's the target now?LOL The stock movement so far today suggests some institutional selling, but there are a lot more shares that have yet to be sold, IMHO.
The only deal CRM could possibly have would be more dilutive to the stock. Taking on any more debt would be detrimental to CRM. Pumps will be sold. This morning is an example of that.
Though I've closed out my LULU and other puts, including CRM puts, I'm holding CRM stock short because, though it's not nearly the size of the position I had and covered on that pre-split dip to 121. It's funny that pumpers make up stories and will continue to while institutions try to pump the stock and then sell as high as they can.
BTW, where is the post about having sold TSLA at 185?
Watch out when institutions lighten their positions. It's possible that is what has pushed CRM down today after a fast and tiny bounce. I made money on CRM as well as two other stocks in less than 90 minutes this morning. Perhaps institutions will continue to pump, but will they be selling on each pump?
Also, while the company would like us to concentrate on the new employees, what about the departing employees? How many shares have been sold and how many more will be sold because of this. Also, why are officers leaving? Is there any type of agreement in which departing executives don't discuss issues at the company for a certain amount of time? I'm referring to such agreements because some companies have such agreements with departing employes and not that I've read that about H.K. or any other departing officers or executives.
Actually, you have the "one sided" part backwards. One example is that the statistics shown on Yahoo aren't correct and what's incorrect favors your type of pump. 1. The short ratio is wrong because it seems to be based on dividing the pre-split number of shares by the post-split number of shares. Despite posts about this for many weeks, the figure hasn't be corrected. According to Yahoo, many statistics shown regarding stocks are supplied by the companies themselves. Where is the responsibility? Is a certain executive supposed to provide that figure? Also, there are other figures that are reversed in ways that have IMHO misrepresent CRM's actual situation.
In addition to all that, CRM's revenues reported have not led to GAAP earnings in this 13 year old company and a company representative has even acknowledged that GAAP earnings aren't expect for at least years.
When estimates for any real earnings are pushed out 2, 3, 4 or more years, some analysts would claim that means that there is no certainty the company will ever have earnings.
How many of your statements are lies? I don't know, but I do know that I had one CELG put briefly over a week ago and was in and out of a couple of puts at a time weeks ago when CELG was dropping into the 130's and again twice after there were rallies from around 150 down a few points. I made more money from those puts than I lost from the one measly put I held briefly over a week ago. Of course you conveniently forgot that I first went long CELG in 2009 when it was under 50. At 150+ it has become a momo stock, currently supported by IBD, but likely going down fast at some point in the future. It's too dangerous to be long or short in that stock now because it can move a few points in either direction fast and could collapse if there's any discussion of negotiating drug prices.
I'm proud that I don't lie. I'm proud that I don't have to have a bevy of number combinations following a user name.
You were told before and are being told again now the details of my experience with CELG. I don't have a position in it and I haven't had a position in it this week. Some people might lie and give fake numbers of where they bought CELG today and then sold it. I won't lie. I didn't do anything with CELG today.
I wonder why someone would get away for the weekend and then post on the weekend. I checked this site now because I was checking e-mail and decided to check this site. I'm on my way out and won't check this site for at around 48 hours. I assume you'll have won a boatload by then.
Getting into that stock on that dip was good and it's possible Jana accumulated shares around that time. Selling into the announcement significant bounce after hours makes sense, The timing of the announcement is still sneaky. Actually, it could be a gift for longs wishing to exit because it's likely the stock will pull back next week ((at least intraday) from the excessive after hours price.