Tuesday, August 26, 2008

Getting Short Salesforce.com Inc - CRM


I have hi lighted Salesforce.com ticker CRM (chart above). Please take a look at my notes for some details. Suffice to say it had a massive gap down last week (which is now open 3 days) which makes many traders shy away from shorting. This makes this a very tough trade, which regular readers know, I feel the hardest trade is usually the best trade. I am using the last 3 days, weak volume rally to get short 1 unit CRM now at $56.95 with at stop at $60.62


Good speculating to you all and never ever forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 2 units of Powershare Agriculture ticker DBA @ $35.35 stop $34.79
Long 2 units of XTO Energy ticker XTO @ $45.40 stop at $44.48
Long 1 unit Currencyshare SwissFranc ticker FXF @ $92.70 stop at $90.68
Long 2 units Ultra Oil & Gas ticker DIG @ $84.65 stop at XLE $71.93
Long 1 unit U.S. Oil Fund ticker USO @ $96.95 stop at $91.38
Long 2 units Ultrashort S&P500 ticker SDS @ $64.65 stop at SPY $130.58
Long 1 unit Oil Service Holdrs ticker OIH @ $186.05 stop at $177.64
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $128.56
Short 3 units FedEx ticker FDX @ $87.10 stop at $88.16
Short 2 units of Apple ticker AAPL @ $178.05 stop at $182.76
Short 1 unit Blackrock ticker BLK @ $218.50 stop at $218.16
Short 1 unit Salesforce.com ticker CRM @ $57.05 stop at $60.62

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