The RIMM Trade

If you have been following the RIMM Trade since the start, you'll see that EVERYTHING that we expected to happen thus far, has happened.

 Back in July when RIMM was in a trading range, we expected a downside head fake move below support, that happened. Then we expected a move back in to the trading range and ultimately a move above the resistance of the trading range-That happened. Then we expected  pullback that would most likely fall back into the trading range on a head fake move. That happened today. We expect RIMM to move up from here, likely in to the high $30's and even the $40's. This will set up the BIG trade. When RIMM makes it up to the target area, we expect to see heavy distribution and RIMM become an excellent short and ultimately make a move lower that will create a NEW LOW!

 The 1 min RIMM chart shows the head fake this morning below support, RIMM quickly moved back above the trading range. Right now it looks like some profit taking is gong on. I don't expect RIMM to move back in to the trading range.

 The 10-mn chart shows the accumulation we expected to carry RMM higher eventually.

The 15 min chart has shown a lot of improvement today.