hello guys i am short RIMM 4k @38.97 it had a little pop on wensday the 31th. any feedback on the next 2-4 days ?
it looks to me it hit the 200 day and pulled back and closed under the 200 day M/A. maybe you are long at 40.00
the 50 dma at 43.37 is a magnet. its going to hit that area. if it closes above it,you could see 55. why did you short RIMM? there was nothing about the chart that said short...
the 21 day M/A is at 39.51 , the overall trend is down i thought it had a little pop and then a pull back, what do you think also stochastics shows over bought ?
Tommy, it's only 2/3's of the way to overbought and the trend is a very gradual upward one. If the market continues its "mini rally" or even remains neutral, RIMM will likely attempt a test of 43.34. So the next 2-3 days are not leaning in your favor.
What exactly are you looking for? Nobody here has a crystal ball, everybody is guessing. Next big event for RIMM should be AAPL earnings in ~three weeks - if AAPL can sell truckloads of iPhones in this market, it bodes well for RIMM selling truckloads of Blackberrys. If it matters, I have stinky bid in to go long RIMM @ $31 as I expect the broader markets to go down to significantly lower new lows.
What is your exit strategy? Do you have a stop in place? I have a short position running against me too, and there is specific price action that will determine if I close at a loss tomorrow.