Stock Trade Update: Short Research In Motion (RIMM)

Posted by admin

October 15, 2009

Research In Motion (RIMM) has been acting very weak in this whole rally following a big gap down after earnings disappointment. There was a feeble bounce after the breakdown from 65 to 70 on low volume. I decided to short this one as close as possible near the 69.15 mark where it looks to be reversing to the downside. Any weak earnings from sister stocks like Apple (AAPL) will blow the floor away from RIMM. Here is what the daily and weekly charts look like:

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Comments

Comment by tony on October 19, 2009 @ 6:36 pm

look, very good earn on apple
short can’t do it on Rimm???

Comment by admin on October 20, 2009 @ 9:49 am

It looks like there is no sympathy for RIMM on AAPL’s earnings. RIMM is still acting weak. Let see if it can break below 200 DMA…developing

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