Let me get this straight…Fannie Mae is down 50 percent, Citibank is owned by Oil Sheiks, our homes are worthless and you can’t trust ‘Whitey’ (I mean investment banks), but The Dow is like 5 percent from all-time highs after today.
Party freaking on. CME – chaching, IBKR – always hopeful, Apple is so sweet, My sweet internet sleeper COPART (CPRT) at a big new fat all-time high along with ESRX, RICK (above $20). All but IBKR have been Wallstripped although this blog loves IBKR.
First off, I am loving the market. Secondly, I have nothing left I want to sell. The market meltdown of the last few weeks relieved me of my weeds and aggravating price laggards.
I have a few stocks on the brink…CTXS, BBBB at the top of my trigger list, but everything else is rocking.
Rest assured that means a bitch slapping is coming my way.
The two stocks that look to be in deepest bitch slap territory are RIMM (Blackberry) and Synaptics. With Synaptics, I have expected to get smoked. They are a component play and it won’t end well. I have been selling all the way up because of that. The last few days have seen big selling despite the market strength.
RIMM is now well below it’s low from the recent meltdown and therefore something is wrong.
Care to guess?
Disclosure – Long SYNA, CPRT, BBBB, CTXS, IBKR, CME, ESRX and a lot of other stocks as you know.
There you go with that apostrophe again!
RIMM: Probably because it’s a little bit douchey to give Blackberries for Christmas. “OH HAI HERES A WORK DEVICE FOR XMAS,” that’s about as lame as giving someone a washing machine. I dumped em for AAPL.
Huh. Had no idea that IBKR was public (I trade with them), should probably look into that… vote +1 for a Wallstrip on IBKR!
Are you going to check out the new Apple store?
http://www.apple.com/retail/west14thstreet/week/20071209.html
RIMM executives and insiders have recently embarked on a standardized plan to sell some of their shares. Here is one article about it http://www.financialpost.com/story.html?id=f3291f01-37ac-400b-9813-10d50bedadc3
Supposedly this has slightly depressed the share price this week. I have not verified this story yet.
An interesting part of this story is that quite a large portion of the stock proceeds is going to charity.
Staying long RIMM. Have fun in New York.
thx everybody. You are my news sources. If RIMM is down on insider sales alone, it wont stay down
why are you long rick when ptt is a much better value?
You’re way too fucking happy.