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Strategies & Market Trends : Market Gems-Trading Strong Earnings Growth and Momentum
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To: __HD who wrote (5794)3/4/2001 5:55:28 PM
From: lee kramer   of 6445
 
Hd: What? You think an 855 p/e is too high? If you look at the daily and weekly chart of RIMM you can see that RIMM is in a pretty severe downtrend. On the daily it's declined from 130 near the end of last Oct. to it's current 41 3/4. There have been four distinct legs down. But there have been rallies within the downtrend, though the overall picture is one of lower highs and lower lows. Stocks rarely move straight line down, or up. They're traded. It's taken four months for RIMM to decline from 130 to 41. The stock looks lower, but it'll probably take some time. If you think it's "worth" only $10, I suggest you be patient. NTIQ bounced around for a while between 60 and 80. Then, in only seven trading days the stock dropped from 69 to 27 1/2. Many things really do come to he who waits.
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