Tuesday, October 26, 2010

Best Move in Research in Motion (RIMM) in a Long Time

Research in Motion (RIMM) broke over the $50ish area yesterday, a level it has stalled at multiple times since gapping down in mid August at that price.  While volume was not extraordinary, the move over $51 caught the eyes of the momo crowd (human, and silicon) and today has been the best day in a long time for the stock.  In a snap of a finger the stock approached the 200 day moving average just under $57 intraday, before pulling back. This was one of the safe havens for bears .... but they are being smoked out of every crevice by the Ben Bernanke "Party like it's 1999" mojo.

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