A chap managing his charitable trust was just on CNBC. Saying the wrong stocks (AAPL etc.) went down today and that people should sell stocks like WORKDAY that are trading at crazy valuations.
Took a big hit but need to stop the bleeding. This market is rigged. It won't go down. Whether it should doesn't matter I guess. In pain. Time to start the healing process.
From his blog pre-market:
I'd start buying into the downgrades. I just don't believe the turn, after being not AT hand but IN hand, can be wiped away with two weeks of bad selections at a division that had otherwise been delivering excellent results.
It's just not worth throwing away. I say give them the benefit of the doubt, and buy some down 12%. I am sure the company will be right behind you.
I guess it's worth a shot since we are even a couple of bucks lower than where he liked it.
I was waiting for today to short earnings but it just doesn't feel right. The strength today and the 2 upgrades the day of scared me off. I made $5/share on the trade. Decent.
From the horses mouth...
By Jim Cramer | Apr 30, 2015 | 8:59 AM EDT
MSFT to buy CRM--seems just plain made-up right now
Short this back to $65 boys before Benny sells his shares on this pop.
If there is one guy he sucks up to it's Benioff...
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio said, "Marc [Chairman and CEO Marc R. Benioff] just told me that he simply doesn't comment on rumors. I would find it odd that he would want to sell the company. He's building a new 60 floor tower to put his people under one roof. He absolutely loves his company. He is a tough competitor."
Cramer continued, "Of course anything's possible and Marc has said he will do what's right by his multiple stakeholders but that doesn't mean he's anxious to sell, at least to this observer. True, competitor Oracle (ORCL) just did a big bond deal. True, Marc met saw some execs at Microsoft (MSFT) today because they were in town for an analyst meeting. Beyond that all is speculation and rumor-mongering and I am not going to do either about this company because it would be based on no knowledge of any deal."
By Doug Kass | Apr 29, 2015 | 2:57 PM EDT
Given its size, I dont believe the Salesforce story - but one can never know for sure.
Taking a small short in CRM at $76.40.
Position: Short CRM small