buy RIMM near the open, sell at 39.40

TheCaymanIsland · Dec 3, 2008

Quote from krazykarl:

I don't like this tape.

I'm covering part of my RIMM and going long more fnm.

I think the broader market is starting to turn.
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Are you covering your GOOG yet?

krazykarl · Dec 3, 2008

Quote from TheCaymanIsland:

Are you covering your GOOG yet?
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Nope. The short exposure I have left in GOOG has already been paid for(up to 1000/share), so I don't really care if it blows up.

stock_trad3r · Dec 3, 2008

Quote from Port1385:

Blackberry is still a good long-term short.

1) Lots of competition out there and other alternatives. LG Dare, Iphone, etcccccc....more coming out each and every day.

2) Companies are cutting their budgets and the first things to go are these Blackberries. They are expensive and not really needed. We got along before very well without them and no one really needs to be checking their work email at 9pm at night. either the Blackberries must go or more people laid off, you choose. All these companies are not expanding their staff and cutting more then ever. You know Citibanks and Morgan Stanleys Blackberry budget will be much much lower next year. Certainly Indymac's and Ford's Blackberry budget will be crunched...

3) The Blackberry is the first thing to be cut off the consumers list. Just go back to a basic phone, much cheaper. Notice the large amount of blackberries up for sale on craigslist, ebay, etc. Who wants a Blackberry anyway when you can buy an Iphone?

4) Momo stocks that have dropped this much never seem to come back in vogue with traders. Witness Yahoo, witness Cisco, witness Intel, witness EBAY, witness MRVL...all are nice companies where you can see the demand for their products in the future, but I dont see any of these companies hitting their old yesteryear prices in the next 20 years or more...if at all...

Keep saying to yourself that RIMM is a buy at these levels. 1 disappointing conference call or outlook statement usually leads to another until finally all of the analysts capitulate then either the company is a buy or it files for bankruptcy and zooms into obscurity on the pink-sheets much like Broadvision...
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wrong.

krazykarl · Dec 3, 2008

Quote from stock_trad3r:

wrong.
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No, he's really not. RIMM has a high beta, which is why it's moving up today. I'd still say short it.

Same with GOOG. I'm strongly considering having one of my programs start opening short positions en-masse again after today's action...

NoDoji · Dec 3, 2008

"Buy RIMM near the open, sell at 39.40."

Absolutely perfect call

NY_HOOD · Dec 3, 2008

am i just lucky? am i a broken clock? or do i know how to trade?

kinggyppo · Dec 3, 2008

Quote from NY_HOOD:

yep, RIMM probably gonna go green but how could i not take that quick .70 cents. had to do it. bought again on the pull back and sold for .14 cents..lol.. it was 1000 shares so it was another 140 in about 10 seconds.. made about a g-note today. i'm taking off and will let the market sky rocket wjile i read my paper. cannot let a 1000 dollar day that was made in fifteen minutes turn into a loss. thats discipline and another aspect of discipline is watching the market skyrocket while i sit on my hands. i made a nice chunk of change very early and trading 101 says DO NOT GIVE IT BACK!
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good trade, I was watching C and GS closely today. C is tipping the hat for direction, you need oil and the financials green to really get a rally going.

goldenarm · Dec 3, 2008

Opinions are like assholes. Everyone's got one.

Let's see your P&L for RIMM today, NYHood tough guy.

ucf_student · Dec 3, 2008

Quote from NY_HOOD:

am i just lucky? am i a broken clock? or do i know how to trade?
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nice call congrats on your rimm trades.