Discussion in 'Technical Analysis' started by rodden, Apr 6, 2004.

  1. rodden


    Huge up-gap ( simultaneous with NOK's ).

    Monster MACD.

    RSI 80+ .

    STOCH 80+

    Good licensing program, but this program cuts into the sales of their own product.

    Overbought for sure, but is it too powerful to short?

    Earnings report tomorrow.

    Any ideas?
  2. Digs


    Buy the Rumour, sell the fact...Profit taking tomorrow, unless a HUGE surprise...
  3. Maverick74


    Be careful, they might announce a 2 for 1 split with the report as well. Any upside guidance and she could pop. I would short it on the gap, not before.
  4. rodden


    Thanx Digs. Hope so. Already short - but just a little. Will take a bigger position tomorrow if it isn't going nuts. Just a little cautious - got killed a few months ago shorting TXN on the eve of earnings announcement.

    Good luck.
  5. rodden


    Good point. A split at this level would be logical.

    Did OK ( going for small percentage profit on size ) shorting NT before it split in 2000 though - but that was a different market. RIMM is scary, but NOK might spook a few enthusiasts.