RIMM short term play

F

faure

Just checking out some charts and thought this looked like a good trade - long RIMM at market (114.50) with a stop at 113.50. Maybe 117 initially but new highs aren't inconceivable.
 
Moved the stop to 115.50 with a view to get out @ 118.50. 116.50 is really important and if RIMM does a nose dive it might well get back to 107.
 
I bought some of the RULKUs (RIMM Nov 115 calls) today @ 7.85. I see RIMM closed above that 116.41 resistance and is above 117 in after hours, and I am curious to see if it can make significant new highs soon. Does anyone see this stock going over 120 this week? I get really nervous buying calls on stocks that have run like this one has, but I just could not help myself. I am up about 1.16 on a bunch of the calls, and thinking of selling pretty soon.
 
What a weird day. Got long on the close (111.00) with a pretty wide stop 6 dollars lower at 105. It feels like a pretty risky trade so it should work out.

Also got long BIDU (which is being blamed by Reuters for the decline) on the close @ 308.80 with a stop at 301. People seem to have got into a mini frenzy about today's move....hmmm.
 
Quote from detective:

RIMM and BIDU will both be lower next week, I hope you have some Kevlar gloves trying to catch those knives.
More...

I don't need gloves - just stops. But it could always gap past my stops.

Not a knock on you but a general observation is that only a day or two ago anyone shorting BIDU, RIMM, GOOG etc... was considered brave. Now it seems going long is a brave move. Funny how quickly the sentiment seems to have changed.
 
Help. I knew I should have bailed on those RIMM calls this morning when they opened up a point. Now I am screwed until the sentiment turns again, which of course will not happen until I sell the calls, then the stock will go to new highs.

Stocks were dropping so fast, that my Reuters quotes could not keep up.
 
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