Tuesday, January 23, 2007

Trade Update: Covered RIMM @ $125.70

Covered @ $125.70 / 1000
Here is the reason why I shorted this stock.

Despite my bias regarding this stock and why I think the future is not so rosy for the crac-berry, I have to take my loss today. My point of view will be validated in time but for now, capital preservation is more important.

Trade Details:

Shorted 1000 shares @ $122.90 on 1/19/2007
Covered 1000 shares @ 125.70 on 1/23/2007 for a loss of $2800. A loss of 2.8%.

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