Saturday, January 05, 2008

Research In Motion Limited (NASDAQ:RIMM)


Read Full Post.....
I got spanked by Research In Motion Limited (NASDAQ:RIMM) today.
I bought @113.5, had my stop @111, but today it gapped below my stop, so I had to manually sell it @108. Lost $5.5/share on that trade.

It's getting harder to make a case for swing trading RIMM. In fact, I see more and more stocks with broken trends (FSLR, GRMN, CMG, RSTI, ISRG, etc.) which means less and less opportunities to swing trade. Probably safest just to stick with playing the Aggies for now, although uranium is starting to look interesting as well.

On the other hand, many of the inverse ETF's are starting to look very interesting:

Most of them formed very nice bases during Nov-Dec/07. Furthermore, something interesting happened on Dec. 27/07, and most of these inverse ETF's turned around. When so many markets are reversing like that in such a coordinated fashion, you have to pay attention. It's too late to buy the inverse ETF's now, but on the next pullback, I plan to be ready.

No comments: