RIMM: Decision Time Here
June 29, 2008 9:55 PM
RIMM was one of the stocks I mentioned why we possibly could see some strength tomorrow. This is likely to be a difficult trade, especially since I have no confidence on any level that we have seen the market lows here. If we can hold the line here in the market, RIMM should see strength. I consider $128.98 and important high. If that clears, we could start to fill the gap. I still believe that the market will eventually move lower, but a 1-3 day move higher would not surprise me.
We should know where we are at pretty early on. The only news on the board is Chicago PMI at 9:45 EST.
Comments
6 Responses to “RIMM: Decision Time Here”
Got something to say?
-
Recent Commentary
- Site Update: It Has Been Fun, But Closing It
- Morning Call: Open Sold
- Market Recap: GM News Was Not Really A Deal, Dow Low Cleared Late and Down She Goes
- Morning Call: Open Sold, Dow 7773
- Market Call Revisited: Sell Asia
- Market Recap: Not Good
- Market Update: Doesn’t Look Good, 818 and 826
- Market Recap: Buyers Above 818
- Morning Call: Open Gap Bought
- Market Recap: Buying On A Big Number, Now What?
- Morning Call: Still Uncertainty
- Market View: GM Holds The Cards
- Stock Charts VS Market Charts
- Market Recap: Somewhat Predictable, Low Came Where I Said Was Likely
- Morning Call: Unclear, Risk Is High
- Huge Rally: Now What
- Market Comment: Does News Even Matter?
- Market Recap: Close Day Craziness
Our Mascot Trading Goal: Ferrari 599
I am not a fan of the way techs are acting today…at all
the best trade on the boars was UPS as I put in Reader Interaction
I am skeptical of both aapl and rimm here….they might hold the lows…but would have had to clear the Fridays high IMO…neither did…RIMM is a very difficult trade anyhow, because of the gap….you have to be a very good trader to mess with it, IMO, there are easier plays
I do not like the action, as mentioned on RIMM or APPL…If we close like this, we are going to have a wedge …..if it opens flat and then spikes lower tomorrow…both witll be in trouble I believe…
And i would NOT personally hold either overnight TOOOO much risk, especially since i believe the market is going lower - eventually
AND you should have made at least $1.50 “buying as close to the low as possible” as i said….anything more, you are begging for trouble i believe