Friday, November 23, 2012 11:08:43 PM
CRM , people were talking wedges & break out for CRM but what did it do on the open but fall back to $155.55 some 5pts from premarket /opening high. These double/triple tops are powerful R , though given the days tone & fresh momo that pullback on CRM was also buyable since traders saw they had the SPY backing up the play.
CRM generated some 750mil revs but only netted 77mil profits , its great if your an employee getting stock options but very bad in terms of real GAAP earnings why shorts are after it so much. Its easy to call the top on CRM here, unless they ramp the SPY next week and go crazy, which the Boyz wil try if they can.
In any case 1k short on the open netted you $5k in only 20mins from tht double top and another 1k "buy the dip" netted you another $5k on the bounce, so just trading CRM today short then long on 1k shrs would have been a $10k round trip day. And traders do this all the time ( i did parts of each)
And here CRM is at the top again & hopefully trades similarly next week.
CRM generated some 750mil revs but only netted 77mil profits , its great if your an employee getting stock options but very bad in terms of real GAAP earnings why shorts are after it so much. Its easy to call the top on CRM here, unless they ramp the SPY next week and go crazy, which the Boyz wil try if they can.
In any case 1k short on the open netted you $5k in only 20mins from tht double top and another 1k "buy the dip" netted you another $5k on the bounce, so just trading CRM today short then long on 1k shrs would have been a $10k round trip day. And traders do this all the time ( i did parts of each)
And here CRM is at the top again & hopefully trades similarly next week.
Discover What Traders Are Watching
Explore small cap ideas before they hit the headlines.
