SHORT RIMM before earnings

Rimm has been lagging the market for the past week.

The nasdaq surged this week while rimm is falling.

This is the result of the fact that RIMM already had a huge rally rising from $80 to $98 in just a few weeks.

Also cramer and two analyists bashed the stock since last thursday. Everytime someone downgrades rimm it falls a few bucks.

Rimm will continue to outperform in the long term though.
 
Kingliam do you see RIMM missing badly on earnings? Shorting them into earnings just seems so extremely risky, that I figure you must have a very strong opinion and some solid info on them missing earnings badly?

I bought some of the RULKT (RIMM NOV 100 calls) today at 7.30, thinking they might run up over the next 2 days, but you got me kind of nervous about things.

What is it that you know?
 
Quote from vandger:

but trend is our friend.i also think u put yourself too much in risk against the strongest stock in market.
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n now£¬we see the result.rimm clumb a new high of 110.

and the reason i'm not to againt the market is it's hard to set our stop loss.
 
Quote from kingliam:

adding short 113, next add 120+
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Freaking hell just close the trade! It's up 13% and you're still short?! You must have deep pockets and be trading small percentage to have any logic for holding on.
 
Quote from kingliam:

RIMM down almost 2 POINTS since post.. who's in the money...
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It is one thing to post trades and be brave, it is another to brag and dance when you short before a strong earnings in a strong moving market.
 
Quote from kingliam:

adding short 113, next add 120+
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it could work but meanwhile it's not working.

first bad idea : investing before results

second bad idea : going against the trend and what's more RIMM is on a bubble

third bad idea : doubling your invesment :confused:

wanted to get rimm ?
you're going to get rammed
 
the short was right at the earnings report. i covered luckily. when it dropped it dropped so fast i didnt even have time to cover. ended covering break even . lucky cover...
 
Sold my RULKTs (RIMM Nov 100 calls) at $15.30 on friday. I was convinced that it had gone up a little too much for the short term, as the underlying was way out of the bollinger bands on the 1 year chart. At the time that I sold my calls RIMM was up 12 points on the day, it of course then went up another 2 points. However I used the money to buy the Apple Nov 160 calls.

One would think that RIMM is due for a slight pull back in the next trading day or so.

Are you going to cover your short position on the next pullback Kingliam? Or do you still plan to short more shares at those higher prices you listed?
 
Hey guys....I had purchased a lot of options prior to earnings i.e. Thursday, in addition to my calendar spread for NOV 90 long and OCT 90 short...

The older trade did not make money....

I had tried not to take an event risk, when I was wrong about a year ago on RIMM....when it exploded on the upside...

I am sure how KINGLIAM (SP) feels after he initiated this thread.... I wish him luck, but he should lighten his position and learn to listen to the market. I have been there several times...

EVENT RISK is pretty bad to take for any kind of trader...

But, I think, RIMM is going to continue to go up, as they have corporate customers and hence a winning gadget in their hands.

AAPL will also do well....

God bless you all and learn to yield to the will of the market, i.e. other traders who make market talk based on their money bets...
 
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