Parm

May The Force Be With You, Salesforce.com, inc. (NYSE:CRM)

NYSE:CRM   SALESFORCE COM INC
20 0 0
High beta stocks are on the move today, and not in the good direction for those who are on the long side. Salesforce.com, inc. (NYSE:CRM) is also seeing red as there is news of some insiders selling in recent days. The stock had been down well over 3% earlier, and this is coming on the heels of a decent decline on Friday. As a pro trader I look at the chart and I see a potential entry point to go long Salesforce.com, inc. (NYSE:CRM) for a quick bounce to snatch profits. The level I have zeroed in on is $55.75. This level is slightly below the moving averages and there is a gap which looks like it wants to be filled. I will be looking out for this to happen tomorrow as there is a proprietary time count I am watching for, which will also increase the odds of the bounce. If Salesforce does not get to this level tomorrow, then I will look for an entry point somewhere near the bottom of this channel, which I have drawn out for you on the chart below. Have this chart on your radar for tomorrow and get ready to pocket some quick cash.

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Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader
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