RIMM UPDATE

Yesterday RIMM was under consideration as an earnings play trade, a lot of people are trading RIMM so I decided to just update RIMM. I do have a mid size position in RIMM that I think I will hold, but I would not generally place RIMM out for all members as an earnings trade because of one chart today. So the bottom line, those of you thinking about it, here are the charts.

 RIMM 1 min shows improvement

 5 min shows improvement

 10 min remains in line

 The 15 min chart was very positive, today it is just in line-this is what I don't like.

The 30 min chart looks positive.

I am thinking that with the market being ready to reverse, if RIMM reacts well, it may be short lived.