I had bought some RIMM into the massive selloff a few weeks back, BUT still paying $60 bucks more than I sold it before months earlier. It has looked weak since.
Today was the first sign of life after it’s 30 percent pullback.
The end of the year is usually quiet. It has not been this year. The shorts have had much ammo, but still we hold.
That’s bullish.
Disclosure- Long RIMM
damn you uncle howard!
I want you to know, none of my uncles ever gave me any suggestions as good as RICK.
So, I decided, in the spirit of the holidays, to take some time, call them up, and chide them for their lack of fatherly influence.
“You never told me strip clubs were so profitable,” I would lament. “I have an anonymous internet uncle who dispenses better advice,” I would say. “They have nice margins, and all the dancers are independent contractors,” I boasted.
My cries fell on deaf ears.
3 of my 4 uncles expressed remorse. The fourth one said, “Boy, If I knew there was a club that paid ME, I never woulda gone, and I’d still be unmarried.”
True Story.
rimm & braveheart, you made a great pairing but i disagree with the ending. imo, rimm can have all these small bounces but i think the short side or nothing is the play. i expect rimm to be decisively lower in 6 months and it isn’t just because of aapl, who just let the genie out of the box.
This Rimm may have a slight rebound, but I that if we reach a high of the last 3 days we may have a turn around… until then sideways it is!
Sidelines Mode
RESEARCH IN MOTION LTD (NASDAQ:RIMM)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.
Based on a pre-defined weighted trend formula for chart analysis, RIMM scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):
-10 Last Hour Close Below 5 hour MA
+15 3 Day High on Friday
-20 Last Price Below 20 Day MA
-25 3 Week Low, Week Ending Dec 15th
+30 3 Month High in November
-55 Total Score
Have a happy holiday,
Lindsay at the TradersBlog