Short Rimm @ 38.97

TOMMYJR9,

I thought long and hard about this before responding but in keeping with my commitment of paying it forward (at least to the best of my ability) here goes


You are in a loosing positing and “hoping” it will come back


In the coming days / weeks / months;
It could go up,
It could go sideways
And it could come back down


I don’t know, nobody really knows, and most important of all you don’t know.


Take this weekend, disassociate your self from this trade, and take long hard look at where you are, then figure out the next logical step to take.

Is it past your risk threshold?
Can you stand further losses?
Are you willing to ride it out longer and suffer through the anguish it’s causing

Again – maybe it will come back, but maybe it won’t


BUT "YOU", and only you will have figure this out and decide your next step


Your trading capital is your life blood, don’t lose more than have to…. but more importantly don’t lose more than you have to - just because your hoping it will return


Maybe I’m the biggest ass for saying this, and I apologize if you see it that way, but I’m trying to keep it real


Good Luck Sir – and I mean that
 
Quote from TOMMYJR9:

any more feedback on a pull back ? any one
More...

Your questions show that you just like to hear responses in your favor to comfort you. My 12 years of trading says, RIMM can go to $2 in 2 months or to $150. The chance is low but it is probable. Now the question is that are you ready? I have lost a fortune by just assuming that some cases will never happen. Oil will not go to $140 and then when it hit $140, it will not hit $40,...I can give you tons of examples.
 
the chart says buy,what are you talking about? you are gonna get owned. cut your losses,it was a bad trade and certainly no reason for a short.
 
I couldnt agree more...

From a fundamental standpoint,you are shorting a stock that is as cheap as it has been.Maybe growth goes to zero or negative,but I would tread lightly here..

From a technical perspective,forget about RIMM being overbought or oversold..RIMM is a BEAST,and should be traded in the direction of breakouts..

IMHO,short is the way to be,but I wouldnt be in there past 43 and change.

If nothing else,I hope you are position sizing correctly.That seems to be the biggest bissue


Quote from Random.Capital:

The MacWorld keynote is 9AM Tuesday. In the past AAPL has released things like iPhone sales numbers during the keynote. If they do that, and the market is in a mood to extrapolate growth to the overall smartphone market, there is a real risk of major pain for anybody caught short in the collaterals.

Both AAPL and RIMM have fantastic balance sheets and historically attractive valuations at current prices. With so much other weak prey out there, I don't understand why so many people are drawn to shorting the alpha males of the equity markets.
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TOMMYJR9

I hope you’ve taken some time this weekend and logically evaluated where you are in this trade, and what your next step will (not should) be.


Now whatever you decided (planned) – stick with your plan - then whatever the ultimate outcome, don’t second guess your decision.

Because by the very nature of our business we can never afford to live / dwell in hindsight.


Right now, and over the past couple of days I’ve empathize with your predicament – I’ve been there and done that – and it sucks….

However in the spirit of full disclosure;

I will probably trade RIMM tomorrow, and in the coming days – so even though tonight I may empathize with you situation now, – Tomorrow @ 9:30 EST – I will not care about you or your situation one bit…

Just like everyone else trading RIMMM tomorrow, and in the coming days – could give a shit about me, or you


And this is exactly why YOU, and only YOU, need to make a logical, dispassionate decision, that is in YOUR best interest, and stick with it.


I wish you well
 
this is why traders lose money and blow up accounts. they refuse to take small losses and admit they were dead wrong. this displayed no short sigmals when the OP posted his short. the poor guy is getting buried and thats too bad.
 
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