CRM

Jord20

Sharp
Forum Member
Jun 27, 2002
43,455
6,071
113
Chicago, IL
I am loaded up on downside puts in this dog. I started getting short at 150-152, but this latest pop to 137 is another good chance, IMO.

This thing is wayy overpriced and easily duplicated. I don't get this valuation. Intelligent CEO, but huge multiple. Cut this thing in half and I will take a look.

:toast:
 

Jord20

Sharp
Forum Member
Jun 27, 2002
43,455
6,071
113
Chicago, IL
Anyone else heed my advice on this POS??

It broke through some support today on a huge up day!! That is an ominous sign.
 

selkirk

Registered User
Forum Member
Jul 16, 1999
2,147
13
0
Canada
did not short it, but good call, preferred groupon and a little zynga. covered to early.

as for CRM good call, would rather be short than long, would not want to be long this stock, when the market is uncertain, down recently. only risk is a rip roaring bull market, not likely unless the fed, and the ECB get busy.

was going to ask if you thought about using options but see they are expensive.

thanks
selkirk
 

Jord20

Sharp
Forum Member
Jun 27, 2002
43,455
6,071
113
Chicago, IL
We always cover too early, don't we? ;) That, or we didn't put enough on :mj07:

These government induced rips just kill me. I get that it helps asset prices short term, but what a mess of the financial system these central banks are making. It is disgusting to me.

At any rate, yes, i do use options to short CRM. I have sold some call spreads and also will pick up some naked long puts on rallies (like today). The options aren't that expensive for the way this puppy moves. Vol is about 48 right now. Not terrible. The moves in here well justify that, IMO.
 

Jord20

Sharp
Forum Member
Jun 27, 2002
43,455
6,071
113
Chicago, IL
You've really had to sell puts at every opportunity to be a winner in this. I had a bunch of early success, but have laid off on it's recent strength.

I bought some more puts today. I am not only convinced on the downside of this particular, but the broader market in general as well.

See you at $120
 
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