Absolutely, we will touch $ 80 tomorrow, IMHO, and then going lower. So I change my target for the rest of my short position to around $ 76- 78 for the week ahead.
heilbronner : What factors did you use to decide to take the short position in RIMM to start out with?? ..........was it because it didn't keep going up after the great earnings announcement??
No special factor, Rimm is just a bubble and now it busts. Everbody had the chance and still has to make money with RIMM by shorting. Those with margined long positions in RIMM are probably already out of the game.
was down over 6% in Canadian trading today........you think its headed all the way down to its support
$ 81.60 at the moment, I will be in the seventies this week, so I have to be patient and wait to cash in.
http://network.nationalpost.com/np/...ch-in-motion-concerns-quot-overdone-quot.aspx Research in Motion concerns "overdone" Posted: January 22, 2008, 2:48 PM by David Pett Technology Fear not Research in Motion Ltd. investors, rumours of the BlackBerry maker's demise over highly exaggerated, according to UBS analyst Jeffrey Fan. In a note to clients, Mr. Fan first dismissed concerns regarding BlackBerry hardware inventory as "overdone," saying figures showing a growing gap between net subscriber additions and hardware units shipped are misleading. "When we adjust for churn and non-activated BlackBerries, the gap is much lower," he wrote. Mr. Fan also dismissed competition fears stemming from IBM's expected announcement of a Lotus Notes email package for Apple's iPhone. "We continue to believe competition in the medium/high end enterprise remains at least one to two years behind RIM because RIM's architecture, lower total cost of ownership, distribution channel with single point of contact sale, support infrastructure, and installed base with single point of contact," the analyst told clients. Mr. Fan sees several catalysts driving the stock forward in the coming months including the release of the BlackBerry Unite software, more carrier launches, more introductory BlackBerry data price offerings and possibly a touch-screen BlackBerry later this year. He said he expects RIM shares could outperform on a relative basis given the recent sell off and reiterated his "buy" rating US$155 price target.