View Poll Results: Did you buy shares ?
- 988. You may not vote on this poll
- 11-24-2012, 08:28 PM #976
Re: I support RIM and I buy shares !
You do realize it's only going up because everyone thinks they will make easy money by buying cheap shares.
Same thing will happen when all of you kill the market by trying to sell at the same time.
Stock will be worth 4 dollars.
Economics courses in early university should be a requirement for buying stocks.
Uneducated people should not buy stocks.
Last edited by Superfly_FR; 11-26-2012 at 06:14 AM.
- 11-26-2012, 10:58 AM #987
Good luck to everyone. I know Superfly has been posting for a while and respect his/her long time view. For new folks who don't have a ton of market experience, there are a few things that really would worry me about jumping in now with anything other than play money you can afford to lose.
First, is the large short position taken at much higher levels. I am NOT saying this is a short covering rally but do think it is a component of it. For many, the stock could run another 100-150% and they would still be in great shape in the short position.
Second, Nokia is also having a very impressive rally. For those who think it is all about BB10, I would not be completely convinced. I know they have a new phone which is actually outt, but it seems more like an anti-Apple rotation play than a pure RIMM (or NOK) play to me.
Lastly, just as I cautioned (rightly) not to try to catch a falling knife, Wall Street is pretty smart. By the time we all figure out what is going on (now) the smart and large money usually has a lap on us all and is ready to get out once they whip us all into a frenzy. When they do, their volume of shares will really move the market. We also don't know if Prem Watsa or some other player is moving again. He has lost 100's of millions of dollars and could have jumped in when the shares were tanking. There could also be another major player or fund who jumped in at 7 or 8 triggering the rally. Pure speculation on my part.
THIS IS NOT INVESTMENT ADVICE, I DON'T OWN OR PLAN TO OWN ANY RIMM. Just my own thoughts base don watching the market for years and RIM in particular for the last 2 years. Good luck to all. I hope it continues to rally and I can get a new BB in January!
- 11-27-2012, 07:59 AM #990
It would not be very unusual and I would say even healthy to see some profit taking here and a consolidation at $11-12 for a few days. After consolidation you will usually get a leg up or down. After hours/pre-market in a stock like RIMM is very thin volume and easily swayed, "only" about $4.5M worth of shares traded. It is back down below $12 this morning but again I wouldn't give it much credence either way as only 150,000 shares have traded hands as of 9:00. The next few days will be very interesting to see if it continues up, consolidates or if there is profit taking that drives shares down.
- 11-27-2012, 12:35 PM #995
Hope you sold those shares early and enjoyed your "champagne weekend" before the plunge.
Still not a good investment in my books. Way too much volatility.Nokia 5100 > Nokia 3390 > Motorola T720i > Siemens M55 > Sony Ericsson k700i > Nokia N73 > BB Pearl 8110 > BB 9000 > BB 9700 > BB 9900
If there's a real plunge (under $9 ?), I'll buy more, provided I have some available cash.
Target frame is 3-5 years ... an eternity, isn't it ?
(also read my post above yours, as I don't pretend it is the proper action)
- 11-27-2012, 12:42 PM #997
I support RIM and I buy shares !
Picked up 10k. Invested in scarier investments in the past.
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11-27-2012, 03:10 PM #999
- 5,644 Posts
- 11-27-2012, 05:57 PM #1000
Market went back today to try fill the gap left from Friday to Monday's launch, it didn't completely. Not unusual, as I said before nature abhors a vacuum, especially in technical analysis so it was likely this gap would be closed in the same way the downside one was recently.
Going to be interesting tomorrow, you really wouldn't want to see the market go much lower than here 10.35 fills the gap and you would like to see that hold, if it didn't you might see some continued profit taking from short term traders. This move brought the RSI back in line which is another thing I was hoping to see for the bull side of the argument, gave a little respite for some of the technical guys looking for another place to buy.
Just my humble opinion looking at the chart. See what I know :-)
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