Comments on: Positive Open http://www.stocktradingtogo.com/2007/12/26/positive-open-2/ Investing Online Made Easy Fri, 20 Nov 2009 09:55:02 -0500 http://wordpress.org/?v=2.8.4 hourly 1 By: Bryan http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36585 Bryan Thu, 27 Dec 2007 18:48:43 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36585 RIMM has definitely been range bound since it popped, but it did take out the downtrend line established by the November high and the early December (lower) high, and looks to me like the 50 day will act as support. Over approx 1 year period the 50 day looks like it's played a pretty important role as support. Good luck on the trade. RIMM has definitely been range bound since it popped, but it did take out the downtrend line established by the November high and the early December (lower) high, and looks to me like the 50 day will act as support. Over approx 1 year period the 50 day looks like it’s played a pretty important role as support. Good luck on the trade.

]]> By: Sean Hannon http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36578 Sean Hannon Thu, 27 Dec 2007 12:17:52 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36578 Rimm rationale as follows: Despite a large rally after their earnings report, RIMM never overtook its prior high. Therefore, we never saw it flash buy in my timing model. I am viewing this as a bearish non-confirmation. Earlier today (12/26), RIMM appeared to be in the process of breaking down. I initiated a large short position. After that, the stock rallied and I am currently underwater on this trade. However, I still view the failure to make new highs off positive earnings as bearish and think this trade will work. Stop loss at $121. Downside target of $107. Rimm rationale as follows:

Despite a large rally after their earnings report, RIMM never overtook its prior high. Therefore, we never saw it flash buy in my timing model. I am viewing this as a bearish non-confirmation. Earlier today (12/26), RIMM appeared to be in the process of breaking down. I initiated a large short position. After that, the stock rallied and I am currently underwater on this trade. However, I still view the failure to make new highs off positive earnings as bearish and think this trade will work. Stop loss at $121. Downside target of $107.

]]> By: Bryan http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36575 Bryan Thu, 27 Dec 2007 08:49:19 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36575 I'll be in Mexico for the remainder of the year, so my short-term positions are closed for now. Sean, why do you feel that shorting RIMM at this point would be a good idea? I’ll be in Mexico for the remainder of the year, so my short-term positions are closed for now. Sean, why do you feel that shorting RIMM at this point would be a good idea?

]]> By: Aaron http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36568 Aaron Wed, 26 Dec 2007 20:36:10 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36568 Sean, I agree that the rest of this week looks like a time to be long. I also agree that the beginning of next year doesn't look nearly as positive. Out by the end of the week looks like the strategy. Sean,

I agree that the rest of this week looks like a time to be long. I also agree that the beginning of next year doesn’t look nearly as positive. Out by the end of the week looks like the strategy.

]]> By: Sean Hannon http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36562 Sean Hannon Wed, 26 Dec 2007 15:37:35 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36562 Not sector specific. I like AAPL, DRYS and BIDU long from here. I am shorting RIMM against AAPL as a hedge and would short DRYS if it closes below 70. With BIDU, use stops/limits and go for 3 pt swings Not sector specific. I like AAPL, DRYS and BIDU long from here. I am shorting RIMM against AAPL as a hedge and would short DRYS if it closes below 70. With BIDU, use stops/limits and go for 3 pt swings

]]> By: The Investor's Journal http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36561 The Investor's Journal Wed, 26 Dec 2007 15:33:58 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36561 I'm done for the year. I'm up 16% for the year, I'm content. Good luck with these next couple of days. I’m done for the year. I’m up 16% for the year, I’m content. Good luck with these next couple of days.

]]> By: Brandon http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36560 Brandon Wed, 26 Dec 2007 14:57:42 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36560 Sean what sectors are your primarily going to focus on for the remaining days? Sean what sectors are your primarily going to focus on for the remaining days?

]]> By: Alfred Chew http://www.stocktradingtogo.com/2007/12/26/positive-open-2/comment-page-1/#comment-36558 Alfred Chew Wed, 26 Dec 2007 14:41:22 +0000 http://www.stocktradingtogo.com/2007/12/26/positive-open-2/#comment-36558 I have a belief that the Santa Clause Rally may not be as powerful as it used to be! We need to be vary of the unfinished subprime fear among the Traders and Retailers. Alfred Chew I have a belief that the Santa Clause Rally may not be as powerful as it used to be!

We need to be vary of the unfinished subprime fear among the Traders and Retailers.

Alfred Chew

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