I missed an obvious long on Rimm Wed at 39.30 I just missed it and did not chase I like it to 42-44 area. I dont like your short based on the fact your entry only had 2-3 points of potential to downside and 3-5 points of possible run against you. I am not sure of your time frame but under 40 is not best area for short imo.
I believe market will be up about 5% in Jan. I think selling 40 Put might be a good strategy. The best strategy will be buy 1x Call 40 for Jan and sell 2x put 40 for Feb and keep your current position.
THANKS NO DOJI , i am in at lets say 39.00 and 4k shares short i am down about 11600 in this trade. $2.92 against me is not a lot for rimm to sell off in 1 day the same $2.92 and i would be even doji what do you think about rimm 2-4 days ? i think monday and tuesday profit taking ?
The MacWorld keynote is 9AM Tuesday. In the past AAPL has released things like iPhone sales numbers during the keynote. If they do that, and the market is in a mood to extrapolate growth to the overall smartphone market, there is a real risk of major pain for anybody caught short in the collaterals. Both AAPL and RIMM have fantastic balance sheets and historically attractive valuations at current prices. With so much other weak prey out there, I don't understand why so many people are drawn to shorting the alpha males of the equity markets.
The chart action indicates it should pull back, but I've no idea where the market will take things next week. (I've only been trading since spring, so winter is new to me ) Have your stop in place and good riddance if it continues to move against you. I have the same situation with a couple of my swing positions. If they hit a specific price, good-bye! Take your money and move on.