SSS - Thoughts on the Short-Side for LNKD and CRM

Published : June 1 2012 at 9:48 ET

CRM is approaching its downside price objective at the 200-dma/130 price level. LNKD remains well above its downside price objective at the 200-dma/84 price level. Watch the indexes here as they make a run for their 200-day moving averages and be ready to take profits as the downside crush of liquidity builds this morning. Do not get yourself fixed into a bearish posture here, simply become oriented towards watching for a possible turn, if and when it occurs, on a possible panic low near the 200-dma on the general market indexes, which would be a signal to bag short-term short-sale profits.

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