that something is wrong here with Rimm. It has sold off repeatedly, even on days when it got upgrades. Bounced off 98 but again has sold off since. I believe it is headed lower from here and am short accordingly.
NOTHING WRONG is just over-sold. Tremendous buying opportunity since no more sellers since last Thursday plus why would anybody be short in this market today. Very srong and ONLY AN IDOIT would be short today - USE YOUR BRAIN!
You are so wrong if you are reading solely off the chart this is a buy point. Support is at 100 which was broken for a brief second but quickly popped above. Look at the past year every time it pulls back 10-15 points it levels then pops to new highs. It consolidates only for next leg up. Your short position is gonna get BURNED big time. This will ramp big time into earnings only to break through to new all time highs. If you truly believe in your short you better buy some calls to protect your ass... your playing with fire.
wow , you guys all good . I agree that there is something wrong here since RIMM continue to be sold off . It looked like some fund guys were backing out . However , the shorts position at this level is very risky because it is a support level . Try to gain some cents here might burn all your money . I'd rather wait or try somewhere else .
Charts tell you what has happened, not what will happen. Fundamentals will trump technical analysis which appears to show consolidation on RIMM after a big run upward. The earnings outlook is very positive on RIMM, so I expect an upward climb in stock toward earnings and we'll see what happens thereafter. Shorting RIMM is very high risk IMHO.