RIMM Update

As most of you know, I'm no fan of RIMM, however in the last update I thought we should be on the lookout for a Crazy Ivan, first to the downside, and then above the trading range. RIMM is an interesting stock today.

 RIMM trading range, I would like to look at RIMM as a short above the trading range. Note today's gain of nearly 5% and increasing volume. Also note the break of support, setting up a potential Crazy Ivan shakeout.

 RIMM 15 min, this is part of the reason I suspected a Crazy Ivan shakeout and a move above the trading range.

 RIMM 5 min 3C has called all of the moves up. It's now leading.

 The 1 min chart suggests a pullback

 This is one potential target, at which the risk on a long entry is pretty low with a stop below today's lows.

This is the second potential pullback area.

Ultimately I'd like to get good short positioning on RIMM above the trading range.