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
If you only read one email again, make sure it comes from the Elite Round Table. Our FREE market emails contain information that can actually make you money. Ask yourself, what email have you read that can do that? Answer = none. Join our list here.
Parm Mann
Elite Round Table
Follow me on twitter: @ParmMannTrader