This morning, leading application software company salesforce.com Inc (NYSE:CRM) is trading lower by $5.34 cents to $169.31 a share. This leading cloud computing stock is weighing on many other cloud related stocks. Short term traders should watch for intra-day support on CRM stock around the $166.90 level. Should the stock decline below that level in the coming days there will be daily chart support around the $157.00 area.
Some leading cloud computing stocks that are also weak this morning include VMware Inc (NYSE:VMW), Citrix Systems Inc (NASDAQ:CTXS), F5 Networks Inc (NASDAQ:FFIV), and Rackspace Hosting Inc (NYSE:RAX) to name a few. Often the cloud computing stocks will trade closely together. CRM and VMW are considered to be the leaders of the industry group.