For now, RIMM looks like a tired champion ready to retire into oblivion. For a while this stock gave me some of the best trades that I had but the latest price movement suggest that RIMM is done for a while and could give up some of its gains from the previous move. The iphone AAPL news took away some of the mojo of this once beloved stock.
I shorted 1000 shares of RIMM for the BabySteps Fund @ 122.90 with a stop loss at around $125.50. This trades assumes a risk of 2.6 which translates to $2,600.
2 comments:
Any chance you can give me your thinking on entering these 2 trades? Thanks!
I will post my charts and complete analysis tonight...
RIMM - breakdown trade from current channel
ICE - same reason but on the 30-min chart
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