RIMM UPDATE

 I was hoping we'd get a RIMM pullback that was a low risk, high probability entry, however this morning 1 of the 3 long signals (RSI) failed, it's not that far gone that it can't come back, but it is not what I hoped to see.

 Thus far RIMM has been holding around its VWAP and just crossed over it, the first question will be if it does move up is t just a gap fill? I think there's more damage to RIMM then a simple pullback as I mentioned last night, which means it may need a consolidation period before t is able to attempt another leg higher.

 The 1 min chart has been right on from negative divergences to a small positive this morning taking RIMM above its VWAP.

 The 2 min chart has also been right on with the negative divergences and now a leading positive this a.m., but I still feel RIMM will need to consolidate in the area of the 22 day m.a.

 The 15 min chart makes clear there was more damage then a simple pullback, this will need to get at least in line with a consolidation, currently it is in line with the decline.

 The 30 min chart was confirming the uptrend until the negative divergence, no simple pullback should effect the 30 min chart, so as I mentioned last night, this looks like Wall Street letting RIMM know that the management shakeup, while a good start, did not go far enough. There is a small leading negative divergence currently.

Finally the positive divergence that launched the RMM rally on a 60 min chart, note where distribution came in to play, right at Gap resistance and gap resistance is some of the most reliable resistance. From a swing trade perspective, I would consider RIMM a long only once it has breached that gap resistance. However there may be an earlier trade on accumulation, although I'm guessing were several days to a week off from that possibility. I'm glad I took my profits in RIMM last week.