Hey Morgan, told you it would crack $15 :D
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Hey Morgan, told you it would crack $15 :D
It did, for all of 5 seconds so far. Still a lot of downward pressure.
Dropped, stopped for a breather at 14.50. Over 40,000,000 shares traded in the first hour of trading.
$15 : Broken. :)
It's running up again somewhat...
14.89 +1.33 (9.80%)
i wonder how the shorts are doing today?
it went from $11.50 to $14.80 since friday ( on TSX )
could it keep jumping more than $1 every day until bb10 launch?
LOL...i doubt that. What I do know is RIMM is grossly undervalued today and should be trading $20+ by launch. IMO
14.98 +1.42 (10.47%)
Push!!! Push!!!
Coming up on $15 again.
I wonder at what point the majority of the shorts will begin to cover their positions.
Edit: Hit a new high of 15.08 before dropping back down again.
Today's action has created a gap at the +-13.56 level. It wouldn't surprise me if price would continue to climb until the RSI sets a higher high.. (16 as suggested by Morgan?) then possibly retest friday's levels as indicators are in overbought territory.. just my thought :-)
It's having difficulty staying above $15 and bleeding a lot of volume fighting it, could see a reversal if it runs out of steam.
Sounds like Greek to me. Can you explain?
Over 81 million shares traded so far, in less than 4 hours. Any bets on the total volume for the day?
It's only been 2 hours since the market opened. I'd say the final volume should be north of 150 million again.
There's a limited amount of people buying the stock, the amount of shares that will be purchased today is semi-fixed. As the shares get purchased, the price goes up, the amount of shares to be purchased goes down as it gets depleted. On the other hand, there's a lot of people that are selling at $15 resistance (either taking profits or shorting). If the purchasing volume gets used up, growth will stop and shorts will keep selling causing the price to start going down, this may spur people who were long to start taking profit early which will further drive the price down.
Thanks. That helps.
So, the buying number is fixed, but the sell/short is not?
In most cases Sellers sell on margin, money they don't have. Longs buy with cash.
Should also add, that with today's crazy volumes, no one knows what's gonna happen.
It's back above 15 again. It wants to go higher it seems...shorts are trying to hold it down probably.
As long as more shares churn at this price I'm smiling. :)
I think Forbes helped bring new investors to RIM today also via their article. I like new investors, they don't get so jumpy. ;)
$16/$17 ????
BThunderW? Morgan?
Tomorrow on BNN at 8:45 AM we will see Don Yacktman of Yacktman asset management talking about "why I keep buying RIM"
Today's move looks a bit like the path of a dropped ball if $15 was towards the ground. Just bounces a few times and then settles out just above (below) ground level of $15.
It should break through $15 soon. The upwards pressure looks to be much higher than the resistance.
(RIM Rally Repels Resistance Raiders)
Aircel/Vodafone Group/ Blackberry10/ India
With this, I can see over 100 carriers by launch time. bigger launch than anything else out there..
Rubus Labs in Kochi,India (Innovation Village) ,seems to me could be start of Silicon Valley in India.
First adopters >> Blackberry,Oracle,IBM , all in the same building (diff Labs). Something interesting to keep an eye on. ;)
Silly me didn't know Rubus means Blackberry until yesterday, I must get out more,lol.