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  • s_guinepain s_guinepain Jul 24, 2007 7:25 PM Flag

    UPTREND STILL INTACT

    Let's be honest the fundamentals are still great and RIMM went down along with the market and because of the AT&T/AAPL bad news.

    I think AAPL's bad news is actually somewhat good for RIMM but that is besides the point.

    AMZN just reported great earnings! RIMM hasn't had more than 3 down days in a row since 4/16 and we just pierced the 10 DMA which has been acted as support. Finally the volume on RIMM was below average all day and only peaked at the end of the day to barely finish above average. On such a big down day that actually is a very bullish sign. Make no mistake, the big money wasn't selling RIMM today. A high flier like RIMM could easily be down $15 on a day like this if the volume had picked up. There was no panic in RIMM just small profit taking from smaller investors.

    Based on all these observations I think tomorrow RIMM will regain half of what it lost today, about $4 to close around $225. It will be very interesting to see what the volume turns out to be then. BTW in AH RIMM is already showing signs of recovery.

    Longer term technical analysis tells us that the uptrend in RIMM is still intact. Higher highs and higher lows. So Unless the overall market falls on its face tomorrow I look for a rebound to $225 for RIMM.

    This is my educated guess.

    What do you have to say? Please no insults or one line responses.

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    • The uptrend is still intact. Today was a consolidation but the upward movement has resumed. I think this up leg will easily take us past $250 and it will happened before the split. I have a target of $280 by September option expiration day.

      An uptrend as you all know is an upward snake looking price movement making higher highs and higher lows as time goes.

      Here is a recap of the action in the last 4 months.

      4/17 LOW 131.27
      5/9 HIGH 154.83
      5/15 LOW 148.19 > 131.27
      6/18 HIGH 176.05 > 154.83
      6/26 LOW 163.28 > 148.19
      7/5 HIGH 216.19 > 176.05
      7/10 LOW 209.25 > 163.28
      7/19 HIGH 234.35 > 216.19
      7/31 LOW 214.00 > 209.25
      we are currently in an upward leg. See you at 250+

      10%er

      • 2 Replies to s_guinepain
      • The uptrend is still intact. Today is just a bump in the road and the upward movement will resume soon. I think this up leg will easily take us past $250 and it will happened before the split. I have a target of $280 by September option expiration day.

        An uptrend as you all know is an upward snake looking price movement making higher highs and higher lows as time goes.

        Here is a recap of the action in the last 4 months.

        4/17 LOW 131.27
        5/9 HIGH 154.83
        5/15 LOW 148.19 > 131.27
        6/18 HIGH 176.05 > 154.83
        6/26 LOW 163.28 > 148.19
        7/5 HIGH 216.19 > 176.05
        7/10 LOW 209.25 > 163.28
        7/19 HIGH 234.35 > 216.19
        7/31 LOW 214.00 > 209.25
        we are currently in an upward leg. See you at 250+

        10%er

      • Don't let this opening fool you !
        We're are still up trending.

    • The uptrend is still intact and the upward movement has resumed. I think this leg will easily take us past $250 and it will happened for the split. I have a target of $280 by September option expiration day.

      An uptrend as you all know is an upward snake looking price movement making higher highs and higher lows as time goes.

      Here is a recap of the action in the last 4 months.

      4/17 LOW 131.27
      5/9 HIGH 154.83
      5/15 LOW 148.19 > 131.27
      6/18 HIGH 176.05 > 154.83
      6/26 LOW 163.28 > 148.19
      7/5 HIGH 216.19 > 176.05
      7/10 LOW 209.25 > 163.28
      7/19 HIGH 234.35 > 216.19
      7/31 LOW 214.00 > 209.25
      we are currently in an upward leg. See you at 250+

      10%er

    • RIMM is way oversold as it stands and the 20 DMA will act as support. Longs are in for a treat tomorrow. About time !!!

      RIMM hit the bottom of the current leg on Today. Now we go back up to a new high. Notice the volume was 17% below average today. This was not a sell off.

      Here is a recap of the action in the last 4 months.

      4/17 LOW 131.27
      5/9 HIGH 154.83
      5/15 LOW 148.19 > 131.27
      6/18 HIGH 176.05 > 154.83
      6/26 LOW 163.28 > 148.19
      7/5 HIGH 216.19 > 176.05
      7/10 LOW 209.25 > 163.28
      7/19 HIGH 234.35 > 216.19
      7/31 LOW 214.00 > 209.25

      • 3 Replies to s_guinepain
      • wow 209.50 was just $0.25 above support !!!

        That uptrend was challenged but is still intact !!!

        GO RIMM GO !

        Read my previous post in this thread to see the pattern.

      • All the wireless stocks were down today. When everyone realizes the Apple rumor is false, I expect a small rebound in Rimm. When the shorts start taking some profits and begin to cover, there should be some uptrend momentum. But if the overall market continues down, including Asia and Europe, I see more selling in Rimm today... Now (10 am in Thailand where I live) most the Asian markets are all down, so we could be in for another wave of selling all week as sentiment maybe changing. I am just hoping for at least a 2% pop in Rimm so I can sell a call option or get out with a small loss from my trade yesterday. Have a better one...

      • u are right.. it was NOT a sell-off.. low volume price declines rarely are... more selling to COME.. a "SELL-OFF" will be accompanied by huge volume and relatively SMALL price decline.. it will FIRST come at 177...
        then a pop to 215.. suckers rally.. then a SECOND LEG down.. a brief stop at 177.. and ret at 145 for 2-3 quarters.. a FINAL PURGE come February 2008 to $90.. (all pre-split number mind you).. BUY just 40 contracts of a in the money puts LEAP.. and in one year or less.. sell for $500,000 ! ! ! !

    • RIMM is way oversold as it stands and the 20 DMA will act as support. Longs are in for a treat tomorrow. About time !!!

      RIMM hit the bottom of the current leg on Friday. Now we go back up to a new high.

      Here is a recap of the action in the last 4 months.

      4/17 LOW 131.27
      5/9 HIGH 154.83
      5/15 LOW 148.19 > 131.27
      6/18 HIGH 176.05 > 154.83
      6/26 LOW 163.28 > 148.19
      7/5 HIGH 216.19 > 176.05
      7/10 LOW 209.25 > 163.28
      7/19 HIGH 234.35 > 216.19
      7/27 LOW 215.67 > 209.25

    • The fact is that fundamentals are in tact, valuations are several years ahead of itself. In other words the market has priced in the stock a perfect senario happening for the next 3 years. Well several questions are being raised concerning the future and the perfect scenario is rightly being called to question. Great company, great product, but the stock is relatively to high. should be priced in the $110.00 range but stock manipulators have turned a legitimate investment vehicle into a ponzi vehicle unfortunately. Inexperienced investor get sucked in by the rising price and ultimately end up holding the bag.

    • Today's move has not affected the uptrend. Today's loss came with no significant volume.

      THE UPTREND STILL INTACT

      On a daily chart RIMM is still up trending establishing higher highs and higher lows.

      Here is a recap of the action in the last 4 months.

      4/17 LOW 131.27
      5/9 HIGH 154.83
      5/15 LOW 148.19 > 131.27
      6/18 HIGH 176.05 > 154.83
      6/26 LOW 163.28 > 148.19
      7/5 HIGH 216.19 > 176.05
      7/10 LOW 209.25 > 163.28
      7/19 HIGH 234.35 > 216.19
      7/27 LOW 215.79 > 209.25

      Also notice that RIMM goes down on low volume and goes up on higher volume.

      Furthermore the oversold indicators show that RIMM is as oversold has it's ever been in the last 3 months.

    • Yeh sure....keep it.

    • I totally agree with you.
      Good luck.

    • Today's move has not affected the uptrend. The uptrend is still intact. On a daily chart RIMM is still up trending establishing higher highs and higher lows.

      Here is a recap of the action in the last 4 months.

      4/17 LOW 131.27
      5/9 HIGH 154.83
      5/15 LOW 148.19 > 131.27
      6/18 HIGH 176.05 > 154.83
      6/26 LOW 163.28 > 148.19
      7/5 HIGH 216.19 > 176.05
      7/10 LOW 209.25 > 163.28
      7/19 HIGH 234.35 > 216.19
      7/27 LOW? ???.?? > 209.25

      Also notice that RIMM goes down on low volume and goes up on higher volume.

      Furthermore the oversold indicators show that RIMM is as oversold has it's ever been in the last 3 months.

      Good luck !

      • 1 Reply to s_guinepain
      • Can you argue with this number Nachos ?

        These are available for all to see. I present my detailed analysis with facts and figures. What do you have besides a negative attitude and a lot of hanger.

        You cannot deny the facts. RIMM uptrend is not challenged by today's move.

        I believe we saw the bottom of this leg of the move today.
        We need to close in the top half of the days range and life would be great.

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