InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Cloud Stocks Still Remain In A Rain Shower  0 comments
    Aug 24, 2011 11:01 AM | about stocks: RAX, CRM, CTXS, FFIV
    The cloud computing stocks have been beaten up throughout the month of August along with all of the major stock indexes. Yesterday, this important group of cloud technology stocks had a good rally as the tech heavy NASDAQ Composite traded higher by 100.00 points from a very oversold condition. At this time, all of the popular cloud computing stocks seem to be trading with the major stock indexes. This is what happens when major stock indexes decline in such a dramatic fashion, leading stocks will simply follow the markets. Today, many of the cloud computing stocks look to be pausing or pulling back a little from yesterday's large point advance. Traders should not expect all that much from the cloud computing stocks until the major stock indexes can settle down and begin to trade higher.

    Rackspace Hosting Inc.(NYSE:RAX) is a leading hosting and cloud computing technology company. This stock is trading lower by 0.53 cents to $34.15 a share. This stock will have intra-day support around the $33.70 and $33.00 levels. Traders must remember that this stock will most likely follow the NASDAQ Composite at this time.

    F5 Networks Inc.(NASDAQ:FFIV) is a leading computer networking stock. This leading cloud computing stock is trading lower by $1.92 to $72.09 a share. Traders can watch for intra-day support around the $71.40 and $70.65 levels. This stock will also trade along with the NASDAQ 100 stocks.

    Other leading cloud computing stocks that are under some mild selling pressure today include Salesforce.com Inc.(NYSE:CRM), and Citrix Systems Inc.(NASDAQ:CTXS). It seems that the entire industry group of cloud computing stocks are trading together at this time.



    Nicholas Santiago
    InTheMoneyStocks.com
    Stocks: RAX, CRM, CTXS, FFIV
Back To InTheMoneyStocks.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

  • Utility #stocks leading markets higher despite slightly higher yields in the 10-year U.S. #Treasury. $SO, $ED, $XLU all higher today.
    Apr 20, 2015
  • $YELP Forming Bearish Chart.... http://bit.ly/YelpChart
    Apr 13, 2015
  • $WMT bearish base, daily 200-day ma. Should drop to the $78.00 level & present a good entry level to buy the stock. http://bit.ly/WMTAlert
    Apr 10, 2015
More »

Latest Comments


Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.