PLAY: Sell your CRM October 125 Puts (O:CRM 11V125.00) at market, good for the day.
Dear Bottarelli Research Member,
The sudden reversal in the major market averages has given Salesforce.com (CRM – NYSE) just enough strength to push higher. On a day when the markets are weak, I think we’ll have another opportunity to play CRM short. But for now, adhere to your tight stop and close this one out. Sell.
As you can see from the S&P chart, we’re still facing triple-top resistance at the 1,220 level. Until we see this level break, we should still bias our ledger to the downside.
And as always…
Lock and load!