CRM Trade on Aug 26, 2019 09:32 from Cklamb: Tradervue User Stock Trades.

CRM
Intraday Fundamentals
• Salesforce.com Inc. raised its full-year revenue outlook after reporting record results in the latest quarter, a positive sign for enterprise-technology spending as some companies in recent weeks warned of weakening client sentiment.
• The business-software provider said Thursday revenue in the July quarter rose 22% from a year earlier to $4 billion, beating analysts' consensus estimate of $3.96 billion and the company's internal guidance.
• Salesforce also surprised Wall Street with a second-quarter profit, though it was off 70% to $91 million, or 11 cents a share. The company had expected it would swing to a loss, in part, from accounting charges related to its $300 million buy of Salesforce.org, a public-benefit corporation that was a reseller of Salesforce software to the nonprofit and education sectors.
• Excluding stock-based compensation and other items, Salesforce said its quarterly profit was 66 cents a share, higher than the 47 cents a share analysts polled by FactSet had forecast.
• Shares increased nearly 7% in after-hours trading.
• Salesforce's revenue and stock price have risen in recent years as companies accelerate spending on digital transformations. The 20-year-old company, whose reputation grew from providing customer-relationship management tools, has also been positioning itself, similar to German rival SAP SE, to be a dominant provider of cloud-computing applications.
• "Whatever is going on around the world, we see a buying environment where we see CEOs investing -- and top of mind for them is digital transformation," Salesforce Co-Chief Executive Keith Block said on a conference call with analysts. "That's why they're turning to us and that's why you're seeing these results."
• For the current year, the San Francisco company raised its forecast for revenue to be between $16.75 billion and $ 16.9 billion, up from between $16.1 billion and $16.25 billion. However, the company also cut its earnings outlook as it works to digest a series of acquisitions.
• Salesforce closed its largest purchase to date earlier this month, buying data-analytics platform Tableau Software Inc. for more than $15 billion in stock. Less than a week later, it struck a $1.35 billion cash-and-stock deal to buy ClickSoftware Technologies Ltd.
• Salesforce said Thursday it expects full-year earnings of 28 cents to 30 cents a share, off from its prior guidance of 78 cents to 80 cents a share.
• The quarterly results are also a sign of relief for investors because Salesforce beat expectations despite concerns around potential softness in international markets and headwinds related to currency exchange rates, Stephens analyst James Rutherford said.
• The report comes after firms including networking-gear maker Cisco Systems Inc. and data-storage company NetApp Inc. raised concerns earlier this month about potentially tepid growth in information-technology spending.
• World-wide spending on enterprise-application software is expected to rise 8.8% this year to $210.69 billion, according to Gartner Inc., but that pace is slower than the nearly 13% growth a year earlier. Salesforce is the fifth- largest enterprise-application-software company in the world by revenue, with 5% of the market, the research firm said.
• One area where Salesforce still has room for growth is overseas, according to Wedbush Securities analyst Steve Koenig. "Their exposure internationally is still relatively limited to what it can be longer term," he said. "These guys have a lot of legs."
• Salesforce has made several acquisitions in recent years to provide its customers with more tools and services. It bought cloud-application builder MuleSoft Inc. in a $6.5 billion deal last year, and acquired e-commerce platform Demandware Inc. for $2.8 billion in 2016.
*** This stock stayed relatively strong in the Friday sell off prompted by trump’s tweet ordering companies out of china***

Technicals
ADV 7.23 m RVOL 16.61 BETA 1.28 ATR 3.88 Short 3.53 Inst Own 76.30
Daily

Trading Plan
• I am looking for this to extend the gains that it started to make on Friday.
• I am looking for this to hold 154 at the opening with some possible consolidation at that level and above VWAP unless it trends higher into the open.
• If it does trend higher pre-market, look for a rejection of price during the opening of the 155 price level. If it rejects sharply V shaped hold until it comes back into 154 or shows some bottoming above the 154 level. This will allow for more defined risk and
• If it passes 155 and holds there, take a light position as a feeler, hold through the next local high to confirm trend add to the long or eliminate the position.
• If it does not put in a higher high, and the higher low start looking for a trading channel and remember the way it was played for the weekly meeting.
Reading the tape
I read the tape most of the day on this stock. I did stick to the plan of taking as it was holding 154 before the opening and flushed 153.50. The watch this looking for order flow that would match the trend channel that I set up early in the day. Leading the flush to 151.50 I could make out sellers stepping down a bit every time it would bounce off of 152. I would see some strength as it would trade around 152. However, it the tape did pulse below that level a couple of times and even trade below 152.
I did not pay close enough attention to the tape as is held 151.50. I did see a changing tape as it retook 152 but it did not seem any stronger than the last runs up to 152.30 ish.
I did watch as a large offer started to come off the board at 154. The tape did confirm a long at 154 later in the day.
I learned a little bit sticking with just this tape read for the day.
Trade Management

Trade Review
• The first trade was only on plan for the entry, stop and target were not clearly defined
• Managed the risk down before admitting I was wrong… grateful it was a small trade for more or trying for a opening drive that was not set up for an opening drive.
• I need to wait for some consolidation above the level as it did not hold into the opening
• The 152 setup marked represented the best RvR on the day
• I sold my winner well before the target managing the P&L
Trade grade
Aspect Score Poss. Notes
Preparation 8 10 Yes prepared for a couple of scenarios
Hard Work 9 10 Yes, great deal of time spent trying to confirm levels and action watchning t&s and L2
Patience 2 10 Not on the opening trade, to much on the later opportunities
Plan 4 10 Not a good plan on the opening trade, the risk management was not there
Discipline 1 10 No, I needed to check my bias much ealier
Contribution NA 10

Replay 0 10