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Strategies & Market Trends : Your Worst Trading Enemy.. You
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To: Ally who wrote (191)1/30/2001 12:21:04 AM
From: Northspoon  Read Replies (1) of 223
 
I am hesitant to say which direction RIM is going - I have been bitten by this volatile s.o.b because of the speed that it moves, but you certainly don't get bored. I have held off going short because it looks as though it is running strong into the closing most days, people are scared of it but everyone wants to wake up in the morning and see that RIMM is moving strong in the pre-market and it is a wonderful experience to have that heady rush when you've made all that money just by sleeping on a stock. The other side for the shorters is that haggard - no sleep look from being in front of a stock that didn't go to sleep. The fundamentals say this stock is overblown but wisdom doesn't always rule. Tech is still the golden boy and there will be large money coming down for RRSP season and the next 7 weeks is prime time for stocks to run and with tax cuts in the states and a probable 1/4 to 1/5 point rate cut on Wednesday expect strong action Tues and Wed and probably through the week. This is my guess on what will happen based on everything I see happening in a normal fashion, so I will probably stay on the long side for a bit longer. I don't post very often because I don't want to commit myself to any one position or stock and I am trying to teach myself discipline and to react to a mistake as soon as possible, I've got so much to learn.

Good trading to you.
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