Thursday, May 19, 2011

Friday gameplan

The fall of Icarus


5:08 pm (Hawaii) Quick plays may include Salesforce (CRM) and LNKD. CRM got good numbers today, but Cramer's pump will possibly sustain upside momentum in the morning. It's an interesting scenario for these two fast movers. Traders will be a little greedy and milk all they can out of these two momo plays, but I expect the selling to be painful after lunch hour. Nobody wants to be long this market over the weekend.

As for silver and gold, this consolidation is tempting me to build a (paper) position or two incrementally. But with no forseeable pop on the horizon, I'm expecting more opportunities to buy physical at lower prices. Near term, it appears the run is done.

RTT News: Salesforce.com profit tops estimate (May 19 2011)
Daily Caller: In reminder of '90s, LinkedIn has big first day (May 19 2011)

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