FAQs Frequently Asked Questions
Market Lab Report
Why did you make a decision to short CRM today using a concentrated position, but didn't select CTXS or VMW for example.
Easy, the break of the 50-dma. Not that hard to see, actually, from my perspective. I actually started shorting the stock around 114 as I was testing it for "softness" since I was long the stock on Monday and it didn't seem to be responding so well to the market strength on Tuesday. I have to "feel" stocks out viscerally, which means by taking a position. So I began testing the "softness" of CRM by shorting a little, and I noticed it felt very "soft" indeed. Hence I began hitting it a little more, and when it broke the 50-dma I went "all in."
It was a great day!
|First published:||7 Oct 2010|
|Last updated:||7 Oct 2010|