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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status | |
|---|---|---|---|---|---|---|---|
| RIMM | Telecommunications Equipment | 6.36% |
|
132 | 28-Aug-08 | Currently Holding |
26-Dec-07
Updated RIMM Rationale
Holding Rationale for RIMM.
Despite a large rally after their earnings report, RIMM never overtook its prior high. Therefore, we never saw it flash buy in my timing model. I am viewing this as a bearish non-confirmation. Earlier today (12/26), RIMM appeared to be in the process of breaking down. I initiated a large short position. After that, the stock rallied and I am currently underwater on this trade. However, I still view the failure to make new highs off positive earnings as bearish and think this trade will work. Stop loss at $121. Downside target of $107.
Tagged Stocks: RIMM
Posted at 11:57 in Holding Rationales | Permalink | Comments (3) | Top
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3 Comments on "Updated RIMM Rationale"
Posted on 27-Dec-07 22:02 by terpn8r
Posted on 28-Dec-07 07:49 by epicadv
Posted on 01-Jan-08 17:31 by epicadv
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