Thursday, August 11, 2011

Trade Idea RIMM (long)

 Ultimately this is a short term trade idea, RIMM is a ways away from being competitive in handsets. I visualize this trade as breaking above the trading range and the 50 sma, at that point, I'd start looking for a short entry, but the ride should be worth close to 10 points.

Notice this is the first confirmed crossover on my screen. I'd like to enter the trade on a pullback, which I think we will get, to the $23 area, risk is lower there as well with a stop just below $22

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