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Trading my two cents

Zenhunter
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

TIMBER! Watch out for the Blackberry trees!

Zenhunter Fri Mar 22, 2013 2:28pm EST 2 Comments

With $AAPL restoring back to its darling status, who needs $BBRY?

I saw weakness in the $BBRY all morning and failed one short attempt; but when $BBRY breached the $16 level, that had to be the tell.  So I shorted $BBRY again.

Look at the 3m $BBRY chart below.  Did you see the waterfall price action?  I love waterfall price action when I’m trying to short; and I loathe waterfall price action when I’m long.

Take a look at that beautiful waterfall from the courtesy of $BBRY:

BBRY_3m

I guess rumor of $AAPL launching new iPhones in the summer isn’t helping the Blackberry trees…

My 2 cents.

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2 comments

  1. Lee
    Lee
    March 23, 2013 at 5:50 am

    i recon its more down to the actual product $BBRY’s aren’t so special. the consumer knows.

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    • Zenhunter
      Zenhunter
      March 23, 2013 at 11:45 am

      You are probably right since the majority of the consumer are Android or iPhone users; the existing loyal $BBRY users are simply not enough. The fact that iPhone may have a new (cheaper?) iPhone by Summer isn’t helping.

      Thanks for the input. Cheers!

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