Update on Research In Motion (RIMM)

Yesterday we started analyzing a potential trade in RIMM to the long side, see the blog entry here: http://steadytrader.wpengine.com/research-in-motion-rimm-looking-at-gap-fill/ After hours yesterday RIMM came out with a fairly smelly profit warning for the...
Research In Motion (RIMM) Looking At Gap Fill

Research In Motion (RIMM) Looking At Gap Fill

RIMM has been one of our prominent shorts for the past few weeks, and a position we finally closed early this week.  The technical pattern in play was a classic head and shoulders pattern with a final target at $51 (note the dotted blue neckline on the chart)....

Quick Daily Summary Thoughts – April 19

Well, after a morning of backing and fillling (the gap), stocks decided to edge higher by roughly 0.50%, depending on which u.s. index you look at.  Monday's 15 point gap lower only has about 5 points left to go to fill entirely.  One of my key shorts as...