After yesterday’s strong bounce the market failed to have a second consecutive up day. There was steady selling in multiple sectors all afternoon. Tech and Energy in particular got hit hard into the close. Energy stocks were selling off despite oil setting new time highs. If the tech selloff continues tomorrow we will breach the 2008 lows and may start … Read More
re: my day
I focused on RIMM on the Open as it was In Play after reporting yesterday. I traded it on the short side once it dropped the 128 support level. It was fairly tame and became weaker as the day progressed. There seems to be support around 123.40. Traded NKE in the afternoon. Didn’t catch the initial short below 60 but … Read More
re: RIMM Followup
As I mentioned this morning I was looking to short RIMM on the open at resistance. I mentioned 140.50 as potential resistance. As it turned out 141 was resistance with many large offers. I shorted below 141 and covered on the pullback to 139. I didn’t catch the move down to 137.50. RIMM released earnings in the after hours. The … Read More
re: RIMM Weakness
RIMM showing weakness in the pre market. probably due to the WSJ article talking about people overestimating growth and underestimating risk in the consumer market. I have covered the majority of my overnight short position as it has failed to hold an offer below 139. Will look for resistance at 140.50 level after the market opens for a safe entry … Read More