For those who trade RIMM ~ What am I missing?

T

TRADERCJ

I obviously am missing something. I have been trading RIMM for the last couple of months and I thought I had it down, but after today I feel clueless.

When RIMM reported earnings a couple of weeks ago, it shot up in after/pre market. The through the day and the rest of the year it went down. It should have stayed up.

Start of the year shoots back up, yesterday +10 points. Today, the trend of the market and RIMM are down, it then turns around and just keeps going up to maket close.

What am I not seeing? Anytime RIMM gets around 138~140ish it has turned and gone back down. Especially with a strong downward market today what made this stock go against the market direction? Is there a indicator, beside volume, that made them buy instead of sell?

Thanks
 
rimm has slayed countless shorts on the way up. Everytime you think it will tank -- bad news, whatever -- it drops slighty, then soars for no logical reason.

Numerous analysts constantly jump on the bandwagon with numerous upgrades, even though a cursory glance shows sales growing at a slower pace and huge competition growing.

I remember when bad news came out on NTP lawsuit; each time the stock started to tank, they halted it, regrouped, then squeezed it up on the reopen. That happened about three times in a week.

Also barrons comes out with some article every few weeks, with an anaylyst saying it's way overvalued.

My guess is one day it will tank hard at the open and longs will get smacked. Until then, though, shorts will constantly get squeezed on the way up.
 
Rimm is just in a consolidating trading range. Nothing special. Just draw a channel around it and buy at the low of the channel and sell at the high until that channel is broken. If it breaks 143 go long and stay long.
 
Fidelity put a bid under it and Momo money was looking for a place to make some coin in a down day and crowded in to the few Rimm and Goog trades available.
 
Quote from Mvic:

Fidelity put a bid under it and Momo money was looking for a place to make some coin in a down day and crowded in to the few Rimm and Goog trades available.
More...

Where would you go to see Fidelity or some other institute buying or selling?

Thanks
 
rimm is a great day traders dream.
the management has stated several times they will buy on dips to maintain the value they believe the company is worth.
they squeeze the shorts each day several times.
you have to be patient, I personally scale into this stock because of its volitility and beta.
they also came out with news after close today about the backdating of options and internal conflict etc.
so the mm and whomever squeezed the shorts and they know the stock will gap down and resqueeze the shorts monday
a few days ago it was 14120 were we shorted it and it fell to just under 130 and then has made it's way back up to same ol
I believe we will see 137 -8 if they can hold it otherwise we will see 130-132 monday/tues.
this stock trading with options allows us larger positions and more better profit per risk/reward by writting calls

w
 
Dont overtrade rimm. Buy it and hold it for weeks or months. You will make more money that way than trying to daytrade it for a few ticks.

Wow buy and hold. That must be a new concept to most people here it seems.
 
Quote from nassau:

rimm is a great day traders dream.
the management has stated several times they will buy on dips to maintain the value they believe the company is worth.
they squeeze the shorts each day several times.
you have to be patient, I personally scale into this stock because of its volitility and beta.
they also came out with news after close today about the backdating of options and internal conflict etc.
so the mm and whomever squeezed the shorts and they know the stock will gap down and resqueeze the shorts monday
a few days ago it was 14120 were we shorted it and it fell to just under 130 and then has made it's way back up to same ol
I believe we will see 137 -8 if they can hold it otherwise we will see 130-132 monday/tues.
this stock trading with options allows us larger positions and more better profit per risk/reward by writting calls

w
More...

Maybe the IPhone helped out, but you got the 130-132 price you were calling for today.
 
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