I bought a starter position in Salesforce.com (NYSE: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. (Click to enlarge)
Disclosure: Long Salesforce.com in fund; no personal position