Shorted CRM again today at just under $150.
It still seems unlikely this stock can be trading based on its sky-high fundamentals, so ultimately it "should" come back down....eventually.
In the short term, looking at it from a technical/momentum perspective seems the most appropriate. CCI's thesis/plan/hope is that "the weak" shorts covered over the past few days and that helped drive the price up. Next, the longs will take profits before the holiday weekend and the stock will fall to fill some of the gap on its chart.
More generally, this re-establishes a hedge against some of the other tech stocks in the portfolio.
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