RIMM - What a stock...

[JonnyT]

Discuss.

Easy Money?

Are there others like it?

JonnyT

 

[Trader333]

It is only today that RIMM has shown this climb, on Friday it was almost flat. But yes you do get them which I am sure you are already aware of.


Paul

 

[JonnyT]

RIMM has been great for a few weeks now.

JonnyT

 

[Mr. Charts]

Yes, I personally find it a good trading stock at the moment, too.

Richard

 

[YHABoy]

Rimm reversal ?

I day trade Rimm sometimes several times a day - it has such amazing liquidity.

I traded the gap down on Friday with a run down to support at $80.

Has just had an excellent run-up but indicators suggest a retracement is imminent a possible reversal having occurred already the last two trading days.

Any thoughts on where this stock is headed - and if you think the market could be due a correction - or another leg up ?

Also looking at shorting Brcm and Goog soon - any comments would be greatfully received

 

[Mr. Charts]

For the longer term, GOOG is a classic bubble stock trading at a huge p/e and its market cap is a little disproportionate too................a $200 short eventually.
1999 lives on...........
Richard

 

[YHABoy]

For the longer term, GOOG is a classic bubble stock trading at a huge p/e and its market cap is a little disproportionate too................a $200 short eventually.
1999 lives on...........
Richard

Do you think it will hit the$350 target before $200 ?
Or at least correct from present level before heading over $300 ?

 

[Mr. Charts]

I meant that at some point I think it will become so over valued on a fundamental basis that when the negative news starts to flow there will be an almighty rush for the exits which will lead it to fall BY at least $200.
Richard

 

[YHABoy]

I meant that at some point I think it will become so over valued on a fundamental basis that when the negative news starts to flow there will be an almighty rush for the exits which will lead it to fall BY at least $200.
Richard

Wow ...I see !
Would like to be on the right side of a move like that !
Will patiently wait for some negative news.
Thanks for the advice.

 

[Mr. Charts]

YHABoy,
GOOG is a stock which interests a lot of people.
I'll post more about it over on the Naz/Mr. Charts private forum as soon as I get time.
Maybe we might have an interesting debate on GOOG, with fundamentals as well as other aspects.
You're welcome to join if you wish.
Details:-
http://www.trade2win.com/boards/showpost.php?p=173318&postcount=76

Richard

 

[YHABoy]

Thanks Mr.Charts
I have flicked through the thread started by Naz on day trading US stocks and it is right up my street.
I am only really interested in CFD day trading equities and longer term holds on indexes.
I have located the private board and look forward to the discussions.

 

[Mr. Charts]

You need to apply to the t2w private forum as described in post#10.
Richard

 

[Mr. Charts]

YHABoy,
I've started a new thread on the private forum about GOOG and you are now enabled so do add your views.
Richard

 

[TWI]

I agree GOOG is great short. Here is an article picked up in mainstream yesterday (hope format is OK, only way I could get it). Long dated puts are trading around 44% implied which is a bit rich. Reading article suggests a spread vs. other media business. Anybody have any good candidates? Equities is not really my bag.

 

[dxx]

rimm

<<<<novice trader..Rimm has bounced nicely from the 62% fib level and appears a high probable long but earning out on 29/06. how would one re-act to this ????

 

[YHABoy]

<<<<novice trader..Rimm has bounced nicely from the 62% fib level and appears a high probable long but earning out on 29/06. how would one re-act to this ????

With great caution.
Without inside knowledge I would never dream of holding a stock like RIMM through earnings - it can move either way $10 - $20 so it would be a gamble of immense proportions.
I day trade this stock only and so far have never held it overnight.

With regard to the 62% level as a high probability long - I do not see this as a reversal confirmation yet - 62% is still a neutral level to me and this stock exhibits many bull traps. I think this stock will remain fairly neutral until earnings set the tone.

YHABoy

 

[YHABoy]

What do I know?

RIMM up 7% as I write this - on minor news
Tried to short it twice (ouch!) but it just kept going up and up.
Unbelievable!

 

[dxx]

hi YHA and thanks for your reply earlier

I took a long trade 600 contracts yesterday from the 62 fib area and the fact that over the weekend Rimm won a Patents case. They also have reported an increased customer expectation etc.

Do you do well day trading rimm?

 

[sandrab]

tell u something - stay off this - i've got burned

 

[Salty Gibbon]

RIMM is not as volatile as it used to be IMHO but still provides very nice moves indeed without the bucking bronco behaviour it was exhibiting last year.

Use decent stops and you should not get burned too badly.

As an extra precaution always keep a bucket of water next to you whilst trading RIMM so you can quickly put out the fire if it looks like you might get burned.