Hopefully, I will not get reamed for doing so!
Giving the “potential” (a loaded question mark here) of the new version of Blackberry coming out early next year, I’m betting there will be a slow recovery from here to the release of the new Blackberry phone.
Actually, this is a pretty low risk trade with a potential for a 3x+ over risk. I bought @ $7 with a stop below today low. If you look at the daily RIMM chart below, taking out today low mean violating the upward slope trendline I drew. RIMM needs to have higher highs and higher lows from here to maintain an upward trend direction from here. As you can see and calculate, the risk is quite acceptable for me.
I will add more if there is higher high on the daily bar going forward.
Believe it or not, I’m 70% invested!
Breakdown of my portfolio by sector:
Uranium 20%
Biotech 26%
Natural Gas 11%
LT equity 11%
Experimental 2%
Good Hunting!
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