RIMM ==> The USVI Winner!

[jiesen]

Thanks, Ski!

Yep, I agree. A bird in the hand is always better than one in the bush. I'm especially glad to have caught this one early this morning (early birds and worms, right?) since 85.9 was barely missed today, and I could have ended up holding over a long weekend, when anything could happen!

No, I'm much happier sitting on my cash profit, ready for the next pick- or for RIMM to come back down to the 60's for another ride up.

[skiracer]

Nearly hit my target just now, but it was darn close, so I lowered it to 85.7 and it hit that. I'm out with my 15%!

Thanks, $$MM, you are HUGE!

ya gotta take it when you got it in your hand. good show Jiesen.

[jiesen]

Sold RIMM for 85.7

Nearly hit my target just now, but it was darn close, so I lowered it to 85.7 and it hit that. I'm out with my 15%!

Thanks, $$MM, you are HUGE!

[skiracer]

Although it took a $2 hit at the open, with the dow down about 100, it's managed to recover the loss, and is even up a buck, while the market's only recovered about halfway. I say RIMM hits 86 by next week, whether the market goes up or down a percent or two. Might even happen tomorrow, if the market cooperates. Anyway, I've got my limit order in for 85.9.

I hope it hits your target Jiesen.

[jiesen]

RIMM taking it in stride

Although it took a $2 hit at the open, with the dow down about 100, it's managed to recover the loss, and is even up a buck, while the market's only recovered about halfway. I say RIMM hits 86 by next week, whether the market goes up or down a percent or two. Might even happen tomorrow, if the market cooperates. Anyway, I've got my limit order in for 85.9.

[skiracer]

Ski, I am a man on the run, and have been since February. Yesterday I spent all day trying to clean off my desk, (filing, filing and more filing!) and I didn't get it completely done. Translation: no time for a thorough job of posting. But I'll try to do a little better, but I am very pressed for time. That's why I gave up my threads. But I really do enjoy your imputs, Ski, because I respect your trading skills, just like I respect Spike. Your comments are most welcome!

Now where is RIMM headed next?

i like the market to the upside but this morning lehman downgraded a number of financial stocks, Goldman Sachs in particular, and several others and that will have some kind of effect on the open and the next couple of hours. whether it rules the whole day is strictly conjecture. i believe RIMM follows whatever the market does today. if the market goes down from yesterdays close then i wouldn't expect RIMM to go up. but I wouldn't be trading to much other than a day trade, either long or short, in this market right now. good luck with that trade and the options. to much in that whole position for me to think about and keep on top of with all the calls and puts and managing them to keep them above water but it does look like the long side could be a winner. i think breakeven from here is going to be the outcome at best.

[New-born baby]

I just wish that NB would have mentioned all his trading with the puts and calls on RIMM as he was doing it or that day instead of this much afterward. I would have liked to have heard his strategies and the logic behind them as the trades were made, and also that he was doing it. we've been talking about the stock and which direction it was going to go in and he never mentioned any of this beforehand or while he was doing it or contemplating doing it.

Ski, I am a man on the run, and have been since February. Yesterday I spent all day trying to clean off my desk, (filing, filing and more filing!) and I didn't get it completely done. Translation: no time for a thorough job of posting. But I'll try to do a little better, but I am very pressed for time. That's why I gave up my threads. But I really do enjoy your imputs, Ski, because I respect your trading skills, just like I respect Spike. Your comments are most welcome!

Now where is RIMM headed next?

[New-born baby]

One more day like today, and we'll be cashing it in for our next 15% win!

Glad to hear you're making $$ on the way up as well, NBB. Hope you get a nice profit on the shares- buying them looks to have been the right call so far.

Thanks, Jiesen. However RIMM's up move yesterday was pretty low volume, so I expect some selling today. The thing about options is that one can adjust his position. I can adjust to the $83.65 strike like this: they'll give me $3.00, and I'd have to buy back the $80 at $4.75. They originally gave me $4.50 for the $80 strike, so it would cost me a net of $0.25 per share, or $25 total, to move up from $80 to $83.65 strike price. If RIMM closes at or above $83.65 on Sept 21, you'd get $83.65 plus the $2.75 you already received from the call for a total price of $86.40.

If one thinks RIMM is going to take a dive for away, sell a deep in the money call. For example one could sell the RIMM SEPT $70 call right now for $12.50, and if RIMM fell back to support at $78.65, that would trim about $3 off of that call, so you could buy it back for around $9.50, keep the $300 and the shares.

Okay, Ski: I'm comtemplating moving up in strike to $83.65. Would you do it?

[skiracer]

The $220 call became three $73.33 calls due to the split. I rebought them and sold three $80 calls at $4.50 each. (I did this the day after I bought 100 RIMM at $223.60. So I now have 300 RIMM at a net cost of $74.53, and 3 calls out there for $80 per share. It took the $4.50 to cover the move up in strike, so IF RIMM is $80 or more per share, I'll get $80 for RIMM. I kept the three puts.

If I had been smart today, I would have rebought those calls at $3.20 today, and resold them later in the day for $4.60. The OCT $80 is going for nearly $8.

It would have been so nice to cover those calls at the bottom, eh Spike?

I just wish that NB would have mentioned all his trading with the puts and calls on RIMM as he was doing it or that day instead of this much afterward. I would have liked to have heard his strategies and the logic behind them as the trades were made, and also that he was doing it. we've been talking about the stock and which direction it was going to go in and he never mentioned any of this beforehand or while he was doing it or contemplating doing it.

[jiesen]

RIMM back in gear today!

One more day like today, and we'll be cashing it in for our next 15% win!

Glad to hear you're making $$ on the way up as well, NBB. Hope you get a nice profit on the shares- buying them looks to have been the right call so far.

[spikefader]

Thanks fer th' update NB. Aye, it woulda!

[Gatorman]

Newborn,
With all due respect it seems to me that you're often wanting it both ways. If a stock keeps going up up up you like it and if it starts down you don't like it. That's the way it appears. What am I missing here?

-------------billyjoe

I don't know about NBB, but that surely describes me regarding ALL the stocks that I own.
I love them when the go up, up, up and absolutely despise them when they go down!

[New-born baby]

Speaking of those options, what have ye done wit' 'em?

The $220 call became three $73.33 calls due to the split. I rebought them and sold three $80 calls at $4.50 each. (I did this the day after I bought 100 RIMM at $223.60. So I now have 300 RIMM at a net cost of $74.53, and 3 calls out there for $80 per share. It took the $4.50 to cover the move up in strike, so IF RIMM is $80 or more per share, I'll get $80 for RIMM. I kept the three puts.

If I had been smart today, I would have rebought those calls at $3.20 today, and resold them later in the day for $4.60. The OCT $80 is going for nearly $8.

It would have been so nice to cover those calls at the bottom, eh Spike?

[spikefader]

You are missing the fact that I played RIMM short (with the options), and now am playing RIMM long with the stock. And I am not a buy and hold type of guy.

Speaking of those options, what have ye done wit' 'em?

[skiracer]

wouldn't you have to agree that it is following the markets. if tomorrow is a down day you can bet it will track down with the market. not a good trading trend in the markets right now and way to volitaile to be trying to swing trade.