Don't miss the chance on Trading (shorting) RIMM

Quote from hajimow:

Here is my update on RIMM and where I believe it will go:

As you see patience and conviction pays off and you get what you shoot for. I was made fun of for this trade but you see at the end what makes sense will come out of noise.
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You're flat (at best) on your RIMM short. Only mention was of a 2400 share existing short on the 14th. No mention of price. In the interim it went to 18. What is the pathology that allows people to gloat about wins that haven't occurred?

The shares went straight up 30% after your initial post.

IMO, someone starting a thread specific to a ticker and a position should be transparent with price and size, in advance. For all we know you've been shorting since $10.
 
Quote from atticus:

You're flat (at best) on your RIMM short. Only mention was of a 2400 share existing short on the 14th. No mention of price. In the interim it went to 18. What is the pathology that allows people to gloat about wins that haven't occurred?

The shares went straight up 30% after your initial post.

IMO, someone starting a thread specific to a ticker and a position should be transparent with price and size, in advance. For all we know you've been shorting since $10.
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I mentioned in my first post to start shorting slowly and increase your position as it goes up and sell naked PUt to juice up your profit. I am not that kind of trader who shorts 100K shares of RIMM and puts a 5 cent stop stoss on his trade. I move with the flow. It goes up, I short more, it goes up more, I short more. Yes if you just assume that I shorted once and did nothing, I would be max flat but all your assumptions have a big flaw as stated above. I am not posting as a journal to state my trades in real time but I am very specific about the price and my strategy. My posts showed that I am a convicted short seller and I keep shorting it. FYI, I shorted even today at 15.20. If RIMM drops to $10, I am expecting to see some posts asking me " so you are losing on your PUTs right? " :confused: :confused:

The reason that mentioned 2400 shares was that someone asked me at early phase that how many shares I am short and I said 2400. That is not my all positions.
 
Quote from hajimow:


My recommendation is that start shorting RIMM when you are comfortable but nibble into it. Don't jump into it at once.
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My golden advice a while ago that shows my wise strategy. Just to prove and refresh some people's memory.
 
If you find someone who is bullish on BB10, just ask him/her one simple question which is:

Do you know any company or corporate (with the size of 50 or more) who has adopted BB10 as its new corporate phone? Ask him/her to name the company.
 
Quote from hajimow:

I mentioned in my first post to start shorting slowly and increase your position as it goes up and sell naked PUt to juice up your profit. I am not that kind of trader who shorts 100K shares of RIMM and puts a 5 cent stop stoss on his trade. I move with the flow. It goes up, I short more, it goes up more, I short more. Yes if you just assume that I shorted once and did nothing, I would be max flat but all your assumptions have a big flaw as stated above. I am not posting as a journal to state my trades in real time but I am very specific about the price and my strategy. My posts showed that I am a convicted short seller and I keep shorting it. FYI, I shorted even today at 15.20. If RIMM drops to $10, I am expecting to see some posts asking me " so you are losing on your PUTs right? " :confused: :confused:

The reason that mentioned 2400 shares was that someone asked me at early phase that how many shares I am short and I said 2400. That is not my all positions.
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Dude, you're full of shit. If you were legit you would've posted a price, period. The trade warranted a thread, but not a price and time?

Like the "300%" you made on a risk-reversal, right?

http://www.elitetrader.com/vb/showt...rpage=10&highlight=risk reversal&pagenumber=3

In that thread you made a similar argument on IBM.
 
Nice job for those who caught it short. I just wanted to point out that a lot of the move lower in RIMM happened intraday so one could have just day traded the shorts repeatedly without having to take on overnight risk or any kind of big draw-down.
 
Quote from atticus:

Dude, you're full of shit. If you were legit you would've posted a price, period. The trade warranted a thread, but not a price and time?

Like the "300%" you made on a risk-reversal, right?

http://www.elitetrader.com/vb/showt...rpage=10&highlight=risk reversal&pagenumber=3

In that thread you made a similar argument on IBM.
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If this was WWF, atticus just pile drived this nit-wit, smashed him over the head with a folding chair and flung him 20 rows deep into the crowd :eek:
 
RIMM is trading at about 12.80 before market open. I don't recommend openning a new short position at this level. At least I am not going to do it today.
 
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