RIMM ==> The USVI Winner!

[New-born baby]

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

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.

[billyjoe]

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

[New-born baby]

do you all this RIMM is a strong buy at 77.20 now ?

I like RIMM here at yesterday's close. It was a retest of the breakout level, and therefore a support, and an excellent place to buy. Buy support, consider selling resistance. The $70 option on RIMM at the $77.20 closing price is $8.75, giving you protection down to $68.45 if the stock drops, and giving you $155 profit per 100 shares if she doesn't drop.

[skiracer]

do you all this RIMM is a strong buy at 77.20 now ?

Squarepusher,
looks like ninner had it right as of yesterdays close. RIMM will most likely follow whatever the market does. to volitaile right now. may be best to watch for awhile before making the play. my feelings are that it follows the market. if today is an up day RIMM will probably go back up. i still like the markets to go up from here and stay above the 13000 level.

[squarepusher]

do you all this RIMM is a strong buy at 77.20 now ?
________
Lovely Wendie99

[New-born baby]

Ski,
RIMM has big target: over $130. So I like it to the upside.

[skiracer]

Friday RIMM hit $78.84 and went no lower. I think that was the retest that I mentioned. Sorry it never got down that last $0.18. Ninner is correct: volume was lower.

he was correct on the volume call but the stock was up 8.35 last week alone and from the beginning of August is way up. the short side call wouldn't have worked out for either the stock or the markets. i still like it to the upside although institutional ownership has shown some recent selling and downside. the call option a week or two ago would have been a nice play. I would be interested in hearing what you, or ninner, think of it from this point forward.

Total Positions365142,075,904New Positions868,629,984Soldout Positions154-15,221,639Net Position Change-72-10,373,531Buyers21323,469,380Sellers285-33,842,912

[New-born baby]

What is coming is a simple retest of the breakout level at $78.66. That's the place to buy RIMM.

Friday RIMM hit $78.84 and went no lower. I think that was the retest that I mentioned. Sorry it never got down that last $0.18. Ninner is correct: volume was lower.

[skiracer]

they didnt cut the fed fund rate..they cut the discount rate....where banks can borrow money from...that is different than the fed fund rate.....my take is that there has been a liquidity bubble where assets got bidded up wayyyy to high due to cheap money..now with liquidity drying up..assets are going to be repriced down..we are in for a big correction ie BEAR MARKET..AND its not going to end over night..too many problems out there...personally even if the fed cuts rates which if they do will probably be 1/4% intervals i dont think it will be enough....too much damage has been done...which havent been filtered through yet. Obviously we are going to have rallies as it takes alot of energy to bring the market down but it will be alot lower imo!!!!

I was talking about the discount rate that they cut 1/2 point last week. sorry for the misunderstanding. Only interested in the discount rate and what they do with that. what the banks borrow at is basically what determines everything else. good point thought to differentiate between the two. I don't see a bigger correction over and above what we have had recently but that's what makes a horse race.

[ninner]

they didnt cut the fed fund rate..they cut the discount rate....where banks can borrow money from...that is different than the fed fund rate.....my take is that there has been a liquidity bubble where assets got bidded up wayyyy to high due to cheap money..now with liquidity drying up..assets are going to be repriced down..we are in for a big correction ie BEAR MARKET..AND its not going to end over night..too many problems out there...personally even if the fed cuts rates which if they do will probably be 1/4% intervals i dont think it will be enough....too much damage has been done...which havent been filtered through yet. Obviously we are going to have rallies as it takes alot of energy to bring the market down but it will be alot lower imo!!!!

[skiracer]

if the fed cuts rates it may be a different story but i dont listen the crap they say on tv..thats just for ratings.....we will see if the fed cuts.....personally i think they wont...

well I don't listen to that either but the FED already came out without any warning and cut 1/2 % last week and stated that they would do whatever was necessary to support the economy and the markets from falling farther. They did stop the bleeding last week and most likely will do it again to keep everything on even keel after this subprime lending fiasco.

[ninner]

if the fed cuts rates it may be a different story but i dont listen the crap they say on tv..thats just for ratings.....we will see if the fed cuts.....personally i think they wont...

[ninner]

bottom line is this the naz, s&p 500 and the dow are either at or near confluence...so we either at the top or very near the top of this dead cat bounce.....im looking for volume to pick up on the downside for RIMM....im not long on this market..im a bear and i only short stocks in this environment. What i was talking about is that RIMM had a high volume day on the 21 and then on the 22 we went above it and finished below it on lighter volume...now whether this was light enough to get both sides in harmony..im not sure however, as its closer to the breakout point if volume stays light then it will probably go back to retest if volume picks up.....how do u say it???? WEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE.. .simple as that.

[skiracer]

I don't like RIMM to the downside from here, Ski. Ninner said RIMM would bust $78.65 South, and I said RIMM would simply retest that breakout level and move higher. I think tomorrow she retests that breakout level early and moves up. You are correct about the volume, too. A low volume pullback is good for the stock as it consolidates here. Next stop: $93 (imho). Here's the chart:

Sorry NB. thought you were holding those puts. I wouldn't be buying the stock, to expensive for me, the options are a good play when they are this expensive, but i like it to the long side over the short side.

[New-born baby]

market back to 235 points over 13000. looking stronger to the upside with the FED lowering the rate and shoring up the subprime lending. I wouldn't be shorting it here. put up a chart NB showing us why you like it to the downside from here. todays drop was on much lower volumn. actually it tried to test that range today at the low of the day at 79.67 and recouped almost a point to close that much higher than the low. the downside is a trap from here.

I don't like RIMM to the downside from here, Ski. Ninner said RIMM would bust $78.65 South, and I said RIMM would simply retest that breakout level and move higher. I think tomorrow she retests that breakout level early and moves up. You are correct about the volume, too. A low volume pullback is good for the stock as it consolidates here. Next stop: $93 (imho). Here's the chart: