Friday, June 11, 2010

Should Have Bought More (CRM)

I bought a starter position in (CRM) earlier this week and forgot how 'easy' it is to make money when valuation does not matter and momentum is all that does.  The stock is already up 9% in a herky jerky tape.  If I had a large position I'd take quite a bit off here as the stock is testing recent highs and either is about to make a double top or go off to the races (and I'd add back that exposure if it raced to new highs)... but since I only began with a 0.4% exposure I am just sitting and reminding myself the joys of buying stocks at 80-90x forward estimates.

Long in fund; no personal position

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