Yesterday's general market rally was of no help to RIMM. It's down almost 50% from its February high and has given back almost all of the gains since the March, 2009 Bear Market low of 35.05. UGH.
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About Me
- Melf Elf
- Blog Purpose: To share with others what I know about technical analysis and about trading. I am not licensed to give financial advice. I never do so. I don't try to "predict" the market. I try to FOLLOW the market, as best I can. I honestly don't know how high or low a stock is going. I'm not a psychic. I mainly look at chart patterns, trendlines, support and resistance. If a pattern breaks out or breaks down, that gives me a price target that is IN PLAY. That doesn't mean that the target will get MADE. Some do. Some don't. While I try my best to answer questions that are directly related to any of the posts that I make, I don't have time to give individual tutoring. Please check bookstores, libraries and myriad sources on the internet on the subject of technical analysis and take advantage of those resources. Thank you for visiting my blog. I hope that you are able to learn something while you are here.
4 comments:
Wow . .what a chart there Melf . .ugh is right. Messy day . .blinded by the fog :-) Have a good day.
Mary
Mary,
Yeah, RIMM is taking a beating. Messy day is right! The SPX rallied right to resistance on Tuesday, and failed right there. I'll post the chart in the morning.
Hi Melf . . market is too mushy for me so I am taking the rest of the week off. Just need to do something else until it becomes clearer. Hope you have a great rest of the week and I will check in on Monday :-)
Mary
Don't blame you, Mary. Have a great weekend!
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