Don't pay dollar to keep 2 cents when wrong. Cut your losses quickly. Trade what you see, not what you think.
Joined Oct 26, 2011
719 Blog Posts

After falling down, RIMM picked itself up and run again

That’s the spirit!

Go! Go!

I must say I’m impressed with RIMM running again today to the tune of 11.4% increase in price action.  Fortunately, I jumped back in during the morning spike.  After price action took out the Monday high of $10.98, it was a no brainer to buy back the stock.

Below is the 5 min chart of RIMM:


The rally continued all day with a minor roll-off by the end of the day.

If the momentum can keep up, I believe RIMM may rally back to the $14 price level to commensurate with the launch of BB10 phone by end of January, 2013, which is about a month away.

I may add more if price action took out the high of last Friday ($12.39).

With oil price spiked up today, I felt the market would eventually follow with rising prices (provided oil price would not give back today gain by end of this week).  Thus, I went into buying spree and bought back SZYM, CCJ, DNN, SGY, & KERX.

SZYM is a long-term position in my eyes and I just could not see myself not holding it.   Despite my concern with its volatility, I bit the bullet and bought back the stock.  Yeah, it went down afterward.  Mr. Market does not always make it easy for anyone.

I bought CCJ and DNN because I believed 2013 would be the year for uranium.

SGY is @RaginCajun pick and I like the look of the chart.

KERX is a Biotech gamble; albeit a small one since I’m currently loaded up on AMRN.

My current holding is now: LRAD AMRN USU SZYM EMAN RIMM DNN CCJ KERX SGY & 38% cash.

Trade well!

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One comment

  1. zenhunter

    Stopped out of $RIMM position to lock in profit.

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