Thursday, November 23, 2006

daytrading RIMM (on the TSX)

RIMM trades as the ticker RIM on the TSX.

I wasn't surprised by the bullish tone on RIM, but I was surprised by the strength of the buyers, esp. given the light volume in the morning session.
As it turns out, there was no technical reason to sell @159.27, other than fear of losing my profits. In retrospect, the 7th candle (10am), which started just above that level, was actually a good time to buy. I was whining to myself about how I didn't take on a big enough position size, and of course, it never dawned on me that the ticker was offering me just that opportunity to increase my position size.
I guess I've been so conditioned to protect my profits, and sell into strength that I forgot to look for opps. to increase my position.
But, even though there is still much for me to learn about when to take profits, I am still happy with my profits that I did make with these two daytrades.

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