It is tough to short the cloud-computing stocks in the technology sector with CRM reporting earnings tomorrow. Indeed, they tend to move in sympathy with each other, just as the optical stocks do. Nevertheless, keep the likes of CTXS FFIV NTAP and especially RAX on your radar for short entries in the wake of CRM‘s earnings. Ideally, shorts want to see CRM get smoked after earnings, with a lag effect in the other stocks tomorrow morning, giving traders a sound entry for shorts.
As far as the bulls go, we are looking at a myriad of sloppy charts here. For my style, even a CRM earnings pop with the group would not entice me for a long swing for quite some time, as they need to firm up even after the pop.
Be sure to tune into my video recap tonight as I go through these charts, among others.
Have had a new computer for about a month and when I go to my favorite folder for financial blogs there is only entry…chessNwine
Thank you, sir. Appreciate it.