4 In my eyes, RIMM has been a buy for the last month, but due to my strict set of rules I was unable to participate. Currently, my rules say buy(yesterday) and so should yours. This is a serious matter and I won’t sit idle as this stock rips higher. Above $15.86 RIMM is a buy, a breakout I was watching closely. However, I didn’t watch it closely enough as I was sidetracked with other bullshit and missed my buy point. Silly me, but it does happen and once again my rules do not allow me to “chase lost gains”.
While, I believe the sell off with RIMM was overdone, it was totally deserved. If you haven’t been paying close attention RIMM has been turning out complete piles of shit. In contrast, the competition has been putting out pure gold for years. What the fuck did they expect? I believe RIMM has life left and if you do as well, you may want to give them a second chance. Keep in mind, I would not buy at these levels. I will be waiting for a pullback to start a position.
In the market, I’m watching all types of wild shit. I’m watching stocks breaking out and buying those breakouts, while seeing stocks breaking down and selling those breakdowns. This is the key, a slow and steady rise to the top.
UPDATE: Head and shoulders forming on NFLX(5MIN CHART) Going to short on break.
UPDATE2:I did not start a long RIMM position, but will be looking to do so come Monday
4 Responses to “RIMM; Currently a buy”
zenhunter
I just don’t see how any phone company can penetrate the smartphone market dominated by Android and iPhone operating system.
Not just RIMM, I also doubt Nokia’s ability to reclaim its previous glory using MS mobile OS.
Meanwhile, the battle b/w Apple IOS and Android are fierce. So, I just don’t see any room for either RIMM or NOK to make any comeback.
Again, just my humble opinion.
10banger
You’re right. I completely agree with you, but I see RIMM breaking out and I have put aside my thoughts.
I hold many opinions on many stocks, yet I only follow the charts. ****It’s when my opinions and my charts line up that I do best.****
If the chart starts to deteriorate, it won’t change my opinion, but it will change my position.
zenhunter
The only difference b/w you and me is that my opinion of fundamental give me the basic direction I want to take and the chart let me know when to get in. The strength of my opinion on the fundamental dictates the size of my speculation.
In other words, I won’t buy RIMM but may look to short if the chart tell me to do so.
Sure, I may miss some trades because my opinion can be way off base; but that is the only way I can maintain harmony within myself during trading.
There are just too many stocks out there with opportunities reflecting on our chart that match our opinion to waste time on those that don’t match. But then, that is just my own journey.
Good luck with yours.
10banger
The important take away from this is regardless of opinion, if we watch the charts we’ll be okay.