Why would company management and institutional holders not insist that Yahoo correct statistics posted when statistics that are incorrect have remained incorrect for a long time? Even a bull on CRM has admitted a broker provided a short statistic that is vastly lower than the percent list on the Yahoo site. CRM is responsible for providing statistics for publication. Simple math shows the percentage short statistic shown is vastly incorrect. The point is that when this has gone on with companies in the past, it hasn't ended well for longs, including for editorial and financial supporters. Being cautious, I hold a much smaller position than I would if those shenanigans weren't being done. In past situations, while corrections didn't happen for awhile, when they did happen and shares tumbled, the moves down were large and swift.
I was bullish for a triple. I have traded to the downside, closing out trades around 95 and then 121 (pre-split prices). That's history. Now CRM shows poor relative strength. CRM has tracked CTXS and only diverged in late August when CRM soared after a report with no GAAP earnings. CRM has been weak lately and like CTXS is more likely to drop several points than move up. Meanwhile, CRM's 50 DMA has been moving up. Your opinion is CRM will move up. My opinion is CRM will hover around the 50 DMA and then will more likely move down. I'm am patient with a shorted stock position that's not as large as expect to have later. Meanwhile I have traded in and out of very small options positions nicely.
I think CRM has been weak enough lately to lose the endorsement by IBD that occurred months ago. Cramer has commented on cloud weakness recently. People have various opinions of those sources.
Recenly CTXS warned. Now TDC guided down and the stock is down about 6 points or over 10%. CRM dipped and then didn't bounce much when the QQQ's rallied significantly from the lows of the day. In fact CRM's relatively weak Monday performance came after the usual Dream Force pump. These are just observations, but not good for some tech stocks, IMHO.
It's coast to coast, not cost to cost. However, CRM appears to go cost to cost, as well. Costs are ample, but not earnings. The notion of revenues being up reminds me of the "eyeballs" measure of 2000.
I doubt that those headliners come cheap.
Is it incongruous that local philanthropy is with money sought from the cost to cost and beyond. I realize local philanthropy is common among many publicly traded companies, but at least most do it with real earnings. What ethics are there when an executive of a company without GAAP earnings (which are real earnings) takes free or cheap stock, sells it at market prices and donates part of that largesse locally. Some might see it as partly a sham to be a "big fish in a little pond" with hopes of more with a company that doesn't expect any GAAP earnings for at least the next two years (and some say beyond that).
Yes, negative earnings are really losses. Yesterday, another stock was reported to have negative earnings, but the reality of a loss took that stock price down.
Those who spend their time criticizing others, may not be short a stock and yet be short, as in intelligence and even other things. I don't know you and what positions you have, if any, but I wouldn't judge your short term moves.
I don't have a position in NFLX, but I also won't criticize anyone who is short NFLX since it could have made a lower high today.
Is Cramer really "saying" that cloud stocks would have done better today if their weaknesses (and being way overpriced) hadn't been made public via the CTXS warning and technical weaknesses?
So what the public doesn't know would have brought the public in to buy in order to help institutions exit at higher prices?
My prediction about the banks reporting tomorrow: If one bank stock (or both) goes up, Cramer will pump. If a stock goes down he doesn't like it. He loved RIMM over 100. There are many other examples.
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.