Wednesday, May 12, 2010

Short some CRM

Do you remember this chart below? A weekly view of ticker CRM.

You can see some of my previous comments which I made back on April 13th here.

The daily chart above shows potentially an exhausted relief rally. The intraday 60 minute chart shows each subsequent high of the last few days accompanied by less and less volume. Call me crazy but punting CRM short here looks reasonable. For what its worth insiders seem to be crowding the exits of late as well.

I am punting 1 unit short of ticker CRM here at $87.45 with a stop at $90.47

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

Open Positions:
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $19.34
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $12.06
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $19.65
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $10.52
Long 1 unit US Dollar Bull ticker UUP @ $22.52 stop @ $21.97
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 92.15 stop @ $89.68
Long 1 unit ishares Barclays 20yr Treas ticker TLT @ 93.48 stop @90.88
Short 1 unit ticker CRM @ $87.35 stop @ $90.47

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