This reminds me of BTU and RIMM (aka bbry). BTU was a Wall Street darling at 70+ and after a dip into the high 50's, rallies brought out urgent "buy" comments. It was similar with RIMM. After topping out at 120+ and being cut in half, there were Wall Street "buy" calls that pushed the stock up to a lower high under 100. The question is whether 58 is CRM's lower high or whether there's a last push up a liitle. Are big players selling into their carefully worded recommendations. They are emphasizing that the stock is at lower prices than it was. Some are coming up with things CRM might do. Are they being careful to avoid writing about continuing GAAP losses for a 15 year old stock? Are they being careful to avoid comments about increasing competition? There are no more mentions about ORCL, which has shunned CRM and is a formidable competitor.
Using the word "might" is a word that has been used for many years. When used, there would be balance if it was mentioned that while something might happen, it might also not happen and it might also revert to much lower prices.
Have you wondered about who was selling more and more RIMM (BBRY), FFIV, BTU, etc. etc. while making statements about how those companies might go to much higher levels?
If CRM closes just above 57.50, will it be good or bad for people with the 57.50 calls to call for the stock? Will the people/organizations that wrote the 57.50 puts that expire today have stock called for that makes it a better trade for the writers who give up stock or those who have stock put to them at 57.50? I have my opinion.
Following some recent Fed announcements market averages dropped at once and then turned and went up the next day. This time the Fed presentation led to a same day rally. Does that mean tomorrow will bring a reverse to the downside?
You were right about the drip. The "bounce" was weak! I chose to close out my options and take those profits even though they wouldn't expire this weak, but I continue to hold a core short position.
Your advice makes sense. Though I re-shorted some shares, my position is smaller than it was on the way down and smaller than I intend for it to be. As I posted, today Cramer told people it was okay to buy CRM even though several points lower he told them not to buy CRM because it was going lower. IMHO, it is going lower even if not today.
I've been offered 5 IPO's and secondaries in just two days (Monday and Tuesday of this week). I won't touch any of those, especially because flipping isn't part of the offer.
I'm holding a small, shorted core position and I couldn't help adding a little to it late today. That's part of the position I closed out last week and those puts (to replace those shares) that I closed out early yesterday, as posted. CRM is looking toppy here and tomorrow morning will be time to analyze the situation. Is this week similar to other monthly options expiration weeks that have one big up day before turning down?
This morning I have already closed out a put position I added Friday afternoon to replace some shares I had covered earlier. I still hold a core shorted stock position that I won't cover until CRM collapses. I had held that put position over the weekend to limit my liability and it was sweet to be able to exit that at a profit, albeit likely not as large a profit as I would have if I'd continue to hold it as stock. I simply went to my comfort level. I was also lucky to be able to exit those puts at a gain so soon. I remain bearish on CRM and continue to hold some shares short even after exchanging some shorted shares into puts that I've now taken profits on.
It's possible today's close is or is near to a lower high. My May 29th posts brought up may still be effect since the market closed on a "pump" Friday around 54, which may be a lower high.
My May 29th posts were brought up by the source of death wishes. When I checked this site, I noticed that post and quickly "flagged it." That's why my May 29th posts came to the top without a post showing.
Have a good weekend!
The long, long time "article" is a repeat of a prior post. If a stock drops 50% within a year, even if it recovers and then doubles over 5 years, those who went long ahead of the 50% drop will have sold long before the recovery. Then, there's the reality of stocks that drop precipitously and never recover enough to get near their former highs.
First, it's an ad. Second, it's misleading to tell people to buy a stock with problems now because it's a buy for the long, long, long time. I wonder if that expectation was sold to buyers of Enron or certain dot.coms. Even stocks that have great balance sheets are likely trading at the tops of their ranges. Granted there are some stocks that will go up over the long, long term and there may even be some that are priced okay to buy for the long, long term. The question is whether advice given out will meet that criteria in the long, long, long run.
After a few intentional bounces followed quickly by selling off from selling and shorting, CRM is just above 50 and ready to drop more. BTW, CRM's CEO got more no votes and fewer yes votes than any other board candidates.
When CRM drops to 25 and if there's a reverse split and turns 400 $25 shares into 100 $100. shares that would have each share at $100.. It may take a few months to get to $25.
ML considers giveaways to insiders cash? That could be just enough to get CRM to finish into resistance just above where it closed yesterday. The real question is whether CRM closes at resistance today and resumes selling off on Monday or whether CRM reverses to the downside today. I don't have any weekly options, but I wonder if the ML pump on this Friday will affect the weekly options this afternoon. CRM sold off after hitting a resistance level last week and will sell off after hitting the last significant resistance that just above where stock is this morning. The question is whether the sell-off resumes today or next week.
I don't remember what Herb wrote about DECK. I do know that Cramer loved DECK at 105 and hated it after it dropped to about half that. I also remember Herb Greenberg questioned ULTA's business model when it was about 20 points higher than it is now. I don't have the KORS stock now, though I made money shorting it after the prior report. I'm neither long nor short KORS now, though I just started a very small put position. I have one small KORS item that I bought on clearance a long time ago and have no interest in buying any other KORS item. .
After the non-earnings report, the stock went down as many as over 18 points from it's initial bounce. After retracement into resistance, CRM is selling off and is about 14 points below it's brief bounce a two weeks ago.
Absolutely. That "name" is a "Member since May 30, 2014." The misspelled word is only the beginning of what's wrong with posts under newly acquired "names." The latest tactic appears to be accusing long time, individual posters falsely.
After falling from 56 to 48 quickly, over the past month CRM retraced and has now filled in the downside gap.
The price of CRM was higher than around 56 when it plummeted to the 48-50 area on Monday, April 28, 2014. That has been 23 trading days. The after hours price of CRM, at the height of today's bullishness, was lower than where CRM traded in March and most of April. The "best thing to happen to salesforce today" was announced early this morning and the stock reached it's high of regular trading hours under 55 and pulled back from there. The after hours announcement reiterated what had been in print throughout the day. Was there a reason that what had been known all day was announced after hours? After hours trading is generally much lighter than during regular trading hours and large spreads can distort trading if a weak short accepts a higher bid. Might that be what happened when the stock price traded slightly over 56 before falling back to the 55 area? After hours volume is lower and after hours is when weak shorts would have given in and covered. Trading as high as 56 filled in the gap formed on April 28th when CRM plummeted to 48+ and put the stock into oversold territory. That gap filled in. CRM isn't being acquired at a premium to its price. It isn't being acquired at all. CRM still reduces the value of retail holders' shares by paying key employees generous salaries. CRM is still a 15 year old company that doesn't have GAAP earnings. On top of that, this cooperation (instead of acquisition) may be interpreted by some large holders as acts of desperation.
It's also interesting that the agreement was announced in print since this morning. The morning bounce didn't continue and didn't even hold the mid morning level. The verbal announcement made after hours was accompanied by a bounce into resistance and didn't hold. When there was lower volume and a verbal announcement after hours, the stock bounced on thin volume. Was the verbal announcement purposely made after hours when volume is lighter. There was no heavier volume taken in by the bounce over 56 and 56 didn't hold.