I am down about 5% in two days on RIMM, the stock was up 2 bucks early in the day and now its down three bucks and thats not good. So there is going to be more downside with RIMM, but I can take the pain. I bought at 107 ans 106 and 102, and I am 100% in but if it trades lower I will buy up til 98. I have no EGO (at least that what I tell myself)
Tuesday, December 4, 2007
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2007
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December
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- Recap 12/18/07
- Capital Preservation
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- FREEPORT Mc MORAN
- RIMM is Killing me
- Stock Market Update: 12/4/07
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- I LIKE RIMM: MATE
- SKF: Short Financials
- Where is Ben Shalom?
- Joe Battipaglia: I can't believe this guy
- Profit from Gaming
- Benefit From The Agriculture Boom
- Whats up with NAT GAS
- RIMM downgrade: Not so fast
- Prudent Stock: 12/3/07
- Stock Market Week In Review: 11/30/07
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December
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$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
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.
5 comments:
Downgrades coming fast and hard for rimm. Could see it under $95 soon unless market starts going up:
December 4, 2007, 5:38 pm
Research In Motion: Canaccord Cuts Target, Estimates; Survey Finds Slowing Momentum
Posted by Eric Savitz
Okay, so now it looks like a trend: Canaccord Adams analyst Peter Misek today cut his target price and EPS estimates for Research in Motion (RIMM) citing “a potential slowdown in momentum.” The call follows a downgrade by Morgan Keegan yesterday, and negative comments Friday by Piper Jaffray.
Misek made his comments in the wake of a survey of telecom carriers, retailers and partners. “While our survey results provided continued positive outlook on RIM, it has indicated a potential slowdown in momentum,” he says. “Hence, we
have made a number of changes to our forward expectations,” with the most material changes in the fiscal years ending February 2009 and 2010. He now sees ‘09 revenue of $8.7 billion with GAAP EPS of $3.64, down from $8.8 billion and $3.76; for ‘10 he cut his outlook by $1 billion at the top line to $10.7 billion, with EPS down 67 cents to $4.82. He price target goes to $145 from $160; he maintains a Buy rating, but yanked the stock from the firm’s Best Ideas list.
For FY ‘08 he actually nudged up his revenue expectations a tad to $6.02 million; GAAP EPS stays at $2.24.
“We continue to believe that RIM shares should be a core holding, but believe that some of the prior momentum may have declined,” he wrote.
Misek wrote that the number of respondents who believe that BlackBerry is gaining market share has declined slightly to 74% compared to 81% last quarter. The number of respondents that believe that BlackBerry shipments have grown over 10% sequentially also declined, to 54%, from 67% one quarter earlier. Misek says RIMM is tracking to 4 million shipments and 1.65 million net subscriber adds in the November quarter, ahead of guidance of 3.7 million units but in line with 1.65 million net sub adds. In fact, he raised his outlook for the quarter: he sees $1.71 billion and 64 cents, up from $1.66 billion and 62 cents.
Research In Motion today fell $3.25, or 3.1%; the stock is down another 42 cents after hours to $101.08.
Looks like you were right in calling Mon and Tue as probably gong down and then a rally.
Rimm up nice in premarket as naz futures popping nicely.
Let's see if we do indeed start to get a sustained rally in the market.
Hey thanks Mike, I stuck my neck out on RIMM I love when great stocks get hammered, I was buy POT in the 80's in AUG along with NOV, DE MOS, MDR, FCX etc. This is all great but if the numbers come down then I'll get wacked. Thats why I follow my 8 to 10% downside protection. Commandment 1: PROTECT THY CAPITAL. up 24% for the year but i will start shorting if we dont close strong today.
While RIMM is looking wounded UBS picks it and POT (few others from Canada) as their top picks for 2008. Let's hope they know what they are talking about:
"UBS Makes Top Picks For 2008; Moves Toward Cdn Exposure
TORONTO (Dow Jones)--In choosing its top eight stocks for 2008, UBS Investment Research has moved slightly away from resource stocks and more toward stocks with exposure to the Canadian economy, with diversity in agriculture and gold.
In their Canadian outlook for 2008, UBS strategists George Vasic and Garry Cooper identified Canadian National Railway Co. (CNI), Goldcorp Inc. (GG), Onex Corp. (OCX.T), Potash Corp. of Saskatchewan (POT), Research In Motion Ltd. (RIMM), Rogers Communications Inc. (RCI), Shoppers Drug Mart Corp. (SC.T) and Suncor Energy Inc. (SU) as their top eight stocks for 2008.
All are rated buy by UBS.
...
UBS believes Potash Corp. is well positioned to meet increasing global potash demand and considers it the leading player in one of the fastest-growing fertilizer segments. It assigned a target price of US$135 to the stock. "
Thanks for the UBS info keep it coming.
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