123 Trends and Reversals Message Board

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Strategies & Market Trends : 123 Trends and Reversals

QQQ 632.08

+0.5%

Nov 3 4:00 PM EST

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To: Ally who started this subject	1/30/2001 11:42:10 AM
From: Ally	Read Replies (2) of 147

Re: RIM Short at $112.50 with a stop at $115 (today's high). RIM is extremely volatile and can easily move 5 to 10 points a day... a big risk, big gain trade! The stock has bounced up for 17 trading days because (1) Nasdaq went up (2) News of pact with IBM on wireless access of Lotus Notes. The stock is struggling to stay up after reaching high of $115 today. I'm betting on (1) Nasdaq taking a beating tommorrow, when hedge funds "sell on news" (2) investors and traders taking profit after the recent nice run up. I think the chart shows the bounce is a bear flag (declining volume) and it's about ready to continue on the down trend. We'll see..

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