Monday, December 3, 2007

RIMM downgrade: Not so fast


RIMM gets hammered on Friday, and today we get another downgrade. I just love this wall street game. Lets get the little guy frightened out of the stock and we'll buy it cheaper, 109 is a great level to get back in, if I can get in here its a great place to start, and as the panicked small investors sell I will buy more hopefully lower. This company rocks in-terms of sales and margins. I think the move they made with China's Mobile carrier was huge. The stock is down 27 bucks and unfairly.

Look at the chart, its got to hold the 109 long term up trend line (support). I think it will, but again I will react to this as the day unfolds since I don't have a crystal ball.

Posted by prudentstockinvestor M.D. at 9:03 AM

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)

About Me: Disclaimer

$BPCOMP

$BPCOMP
Extremely Oversold

Regarding Chart: BPCOMQ

This is the lowest close seen in years, usually a sharp and violent rally follows these moves enhanced by short covering, this is no time to short and start making a shopping list.

Bear-ly Hangin" In dustrials

Bear-ly Hangin" In dustrials
Dow Graph: 11/20/07
The Dow looks like its fighting for its life here at the level. It's no surprise there was a vicious bounce off the trend line as shown in the chart. Unfortunately, the last time we had that five hundred point reversal day was caused by the Fed stepping in, there has to be a similar event that helps the market or there is more pain ahead. The Fed minutes said nothing the market really liked, we sold off hard and bounced back hard as we hit support. This was just a reflex rally we may have to get one more really painful selloff to get around 12500.