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  • new_millenium_profits new_millenium_profits Oct 4, 2006 11:55 PM Flag

    Is $95 possible ??

    The web site you refered to has many general technical indicators that by the text book say this is in the buy mode. What the web site does not go into is the fact that looking closely at any of these technical indicators shows the stock is way over bought. When ever the daily price gets too far away from a longer term moving average it will tend to move back toward that moving average. (Stock price going up toward a higher moving average and down toward a lower moving average)

    Nothing goes straight up or straight down. Even if RIMM goes to $120 in the next few days, it will eventually settle back down and at least test a longer term moving average.

    In the last few days I have been selling short to build a position with an average of about $103.50. Even if I settle for paper losses for the next few days, I believe we will see $100 long before we see $120.

    Is $95 possible?? You bet!!! I believe in the next few days we will start back down and at least see $100, and more likely see $90 in the next couple of weeks.

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