RIMM and ICE Slip
Posted on Mon 27th Nov, 2006 01:24:58 PM
Shares of Research in Motion (RIMM) are trading right at $135 support levels, and are already down nearly 6 points or 4.2% on the day. Volume is nearing 5 million fast, and if $135 falls looks for a retracement towards the $120s. Then take a look at the Intercontinental Exchange (ICE) and you will find it down over 4% as well trading now under $100. The stock was looking to break through $105 and set new highs but only got to $105.10 today before turning south. Volume on ICE is just over 2.7 million, and the stock is set for a heavy distribution day today. A close under $100 is very bearish.
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