World of mouth from big traders. Not on internet. Today's price action also confirms that. I also heard in Bloomberg that RIMM will have an ad in sperbowl which I believe is a big waste of money in this situation.
Haji, at your OP at 14/01, RIMM may or may not have been a short. I don't know if RIMM will go bankrupt or not, but your thesis frames a fundamental viewpoint into technical action. That's crazy, man. And FWIW, at the $6-$7 range, it was trading at it's assets value, with no consideration given to it's equity. That is also crazy, RIMM may very well be worth 0, but it's not worth 0 overnight. Between then and its possible death, a lot can happen. No position now, sold out days ago 17.5x long from 7.5x.
I know that it won't go bankrupt overnight. Simply what I said was that RIMM has no chance in BB10. About being crazy, I am with you 100%. You are right. I am a crazy person and once I commit to a trade, I ride it to the end. FYI I have sold 13.5 PUT (weekly) so in case RIMM goes below 13.5, my short position is covered. I like your feedback. People have different oppinion on the market and that makes it interesting. I agree that I jumped into shorting RIMM a little soon but who knew that.
Another subject: Do you comsumer semiconductor companies are warning left and right but the stocks don't react accordingly. INTC, LTC, ALTR, TXN and today BRCM and many many more. Check out ADI. It is another short which just hit 52 weeks high. I can almost bet my life on it that it will go down below $40 very soon.
good idea on 13.5p if called away I assume you make profit [and a large profit if you factor in your paper loss at 17.75] and can always re-enter. Will RIMM see 13.5 by Friday - let me check open interest for you. Ok, looks like it might pin 15. Not always easy to know how option unwinding will play out! Looks like gaps back to 1/17- closed w/ this retracement
The covered PUTs that I sold during the last couple of weeks have expired worthless and I have collected the premiums. I see extreme high hopes amongst RIMM bulls. They call BB10 the iPhone killer !!. I have an android phone but I know anyone who has an iPhone loves it. Nothing can kill iphone. They can compete but not kill. What I say is that BB10 cannot even compete with iphone and Samsung Galaxy phones.
Here is my update on RIMM and where I believe it will go: As you see patience and conviction pays off and you get what you shoot for. I was made fun of for this trade but you see at the end what makes sense will come out of noise. Another point that I should make is that if you were one of those traders who bought RIMM in $11 range area and sold with a hefty profit, my mat is off for you. Today BB revealed a so so phone which some features that no one really cares and every phone has its cool features so market realized that RIMM will not recapture the market. Market realized that RIMM is a yesterday's brand and even a less cooler iPhone will sell better because it is Apple.It is all about support and apps. When you are with your friends in a coffee shop and everyone is talking about the new app that they downloaded in their new iPhone or Android, you cannot take out your "let's say" cooler BB phone which does not support the app and brag about your phone. RIMM will keep going down and $12 by this Friday is a great possibility. Market correction might accelerate this trend. Buyers at this level based on the belief that gap is filled or any tech analysis theories will severely be punished. My other short stocks are MCD and ADI. I am also long TZA.
I always had Blackberry Finally bought an IPhone in September. Trade off it all the time. Great apps. p.s. can't see why ADI is a great short! What is your target? MCD? Why shorting? Do you feel it traded up to resistance? Or is it fundamental view - i.e. you don't like their new burgers ? Also don't see RIMM trading much lower here. [what's their new symbol]