RIMM goes above $15 on earning cause people are all happy that they are losing less money than they originally thought. Then they actually have time to digest the numbers and listen to the CC and they realize, they are in bad shape, losing subs, BB10 is last to the party, and they ran up 100% on NO PRODUCT yet. Serves them right to hop on the RIMM bandwagon AH only to get smashed. It will be trading back below $10 in no time.
NOK on the other hand is actually selling phones, making money, they rise is warranted and will continue into the future! Ive been long NOK since $1.90, I sold half my position at $3.90 and the rest is all profit.
NOK has been trading sideways after the nice run above $4, that's good that they haven't given up too much ground, if they can take another jump to $4.40+, I think less than $4 will be a thing of the past.
I laugh at everyone who didn't get out of RIMM today, Itll close below $12 tomorrow.
I was surprised as well, even posted about it before earnings. I said I guess I was wrong about RIMM. Unlike other people that only post when they are right. Or mysteriously always post how they buy at the very bottom and always manage to sell at the very top. Yet post here.
The rally had me baffled all the way to the top. I had thought about playing the trade when it was down in the 7-8 range, and now im kicking myself that I didn't, but the rally was over done, and now people will see a pretty steep retreat IMO.
NOK will all come down to Lumia sales even though its a pretty small portion of their revenue, but when mobile becomes profitable, itll be a HUGE bump for Nokia.