SSS - Intra-Day Assessment of Current Short-Sale Targets CRM and LNKD
We note that despite a big gap-up day for the major market indexes, both of our short-sale targets, Salesforce.com (CRM) and LinkedIn (LNKD) are underperforming as they are both currently trading down on the day, albeit slightly.
This relative weakness confirms our view that these remain short-sale targets, using the 50-day moving averages on each, 151.78 for CRM and 103.54 for LNKD, give or take 2-3% depending on your personal riskm preference. Both remain "in play" as short-sale targets, particularly if the general market weakens from here and/or is unable to sustain the big gap-up news rally, a rally that is arguably logical given the market's obviously oversold position last week.
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