From Friday morning:
"RIMM traded down $5 in after hours, near $30. That "could be" capitulation, but that was said about the April 29 gap down to $48.50, when the analysts abandoned the stock en masse. UGH."
RIMM was down nearly 50% heading into earnings and sold off 21% on Friday, after the release of earnings. The analysts researching the commotion continued to slash their targets late Thursday, and on Friday. Only one that I saw (there might have been others), Citigroup, finally said, "SELL." I always feel sorry for shareholders who have followed the analysts in situations like this. Oh, my.
This chart sure gives testimony to "Don't fall in love with stocks," and to "Don't try to catch falling knives."
7 comments:
Hi Melf . . I share your sentiment on the shareholders that got caught in Rimm. They announced they would buy back 5% of common shares afterhours but not sure what impact that will have. Hope you have a nice Father's Day and little Ryder is extra nice to you today because you are his Papa :-)
Mary
Thought you might find this chart interesting on silver, Melf. I don't know :-) Just sharing.
http://screwtapefiles.blogspot.com/
Mary
Thank you, Mary. I think that Ryder knows that it's Father's Day. He licked me half to death this morning. LOL.
Yeah, that's an awful shame for shareholders of RIMM. I've been in their position many times in my checkered past, particularly during the Crash of 1987, which now appears as only a "blip" on our charts, if they go back that far. When I say, "I feel their pain," I mean that literally. UGH.
Hope that you're enjoying your weekend. I'm enjoying gardening, in between the near-constant monsoons. LOL.
Melf . .here is a a video on SLW using some chart analysis I have never seen. Just sharing.
http://screencast.com/t/hQLNWuoq
Mary
Thanks, Mary. I enjoyed looking at that ;)
Melf, I know you are busy man and this CAN wait . .but when you have time would you tell me if this is a triple bottom on this 60 min chart. If you will just say yes or no :-) I appreciate it.
http://i.imgur.com/Xqztw.png
Thank you
Sorry, Mary, I just now saw your question. I'd say no, it isn't a triple bottom. The 29.79 low is a too far below the other two lows. Just my opinion, of course ;)
Post a Comment