If you are not familiar with the fundamental story it goes like this [this content has been deleted for use of fundamentals]So aside from all those myriad fundamental reasons, the chart is looking positive now - if the stock can break through $129, it should be relatively easy going until mid $140s. If it breaks back below $124 we'll cut back the position. This is a nice set up technically since it's not far below to set off the sell point, and the loss would be minuscule.
Apple (AAPL) is also firming up but we want to see her north of $170 so HAL 9000 does not stab us in the back.
Technology is one of the anti-oils to HAL's microprocessor.[Apr 2: Research in Motion Appears Excellent on First Glance]
[Feb 21: Research in Motion Raised Q4 Subscriber Additions ; Up 10%]
Long Research in Motion, Apple in fund; long Research in Motion in personal account
3 comments:
Hey Mark. I can't find out what set Rimm off today? Was it just the general up movement to the Nasdaq based on positive Cisco results? I was sure as shhhh that Rimm was a strong short at 125 butting up against that yearly SMA.
I don't look for reasons anymore - when money flows in, I will flow in. When it flows out I'll try not to get creamed :)
RIMM has no reason to be "stuck" - it has a great earnings report and just sat there. If the sellers are exhausted it should have a nice run.
Unlike most technology stocks which are running up on very little growth but only on a sector allocation this one has true growth. Also no CEO risk -i.e. I bet 98% of people could not tell me the CEO's name versus the situation at Apple with Jobs health.
If it breaks back below $124 or so your short will probably be back on but I think there is easier fare than this one on the dark side?
Dennis Kavelmann... And aside from a touch of arthritis, he only suffers occasional bouts of intestinal discomfort brought on by comparisons to Apple...
jegan ;-)
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