thanks man, agree with you !! and ya i see weakness tomorrow - today was just too fishy and im not buying it. i hope to snag some more in low 11s and low to mid 10s before it going to 15. if bb10 is a success - could hit 40 - even misek agrees although he only places a 30% chance of bb10 being successful
Kyle, I think you could definitely see weakness on Friday. Today's move was extraordinary and somewhat parabolic. I do think there are a lot of fund managers that made a ton of money shorting RIMM over the last 12-18 months, and most of them are directionally unbiased and go with momentum. So I agree that the stock could drop into the 10s in the next few days, but it will be accumulated if it does. The BB10 release, regardless of the outcome should cause the stock to trend higher. I \have Jan Calls right now that I will hold into December before earnings and some into January before the release, but if it gets below 11, I will definitely buy more calls. I hope it does, but I think a lot of shorts might be spooked. Friday should be very interesting. Always remember that momentum can be violent in both directions, especially for stocks that people think could go out of business. Look at BAC or F when they were a couple of bucks and when they didn't go bankrupt, the stocks quadrupled. I'm not saying RIM will do the same, but due to the pounding it took and the fact that it may be around for a while longer if BB10 does okay, it could move up a lot. I will buy puts though if it gets into the high teens, but I think the risk over the next 2 months is to the upside. That's my take.
This "top" you speak baout has now been rendered irrelevant by its 200DMA push. As well $2B in cash, 6000 less employees and $1B in cost cutting means even selling 4 year old devices has this company profitable!!
Can you believe what would happen even if BB10 succeeded mildly. Prem Watsa will be proven right in his bet and he will probably take a buy-out at $42.
Remember how Wall Street works. No one would do a buy-out at $3 Billion when they can do one at $20 Billion. Hahaha it is backwards but mainly has to do with advisor fees. Why sell something for $3000 when you can sell it for $21,000. More incentive to push the deal. That will be coming next year late probably with Microsoft I am guessing.
This company has leaned itself out as Private Equity would have done and now they are going to reap the rewards of restructuring. If you would like a company to short go over to HPQ. That will see $7's.