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Technology Stocks : Research In Motion TSE RIM Nasdaq RIMM

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From: mparness	6/23/2008 10:36:32 AM
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RIMM - Earnings are Wednesday on RIMM, which has continued its torrid pace despite a very weak market. I would expect RIMM to beat as usual. The question is, is it priced in already? Logically the answer is easy - YES, of course it is! But, with investors and traders looking for any positives, RIMM remains a shining star and could easily bust to the $150 - $170 level post earnings if the #s beat handily. Longer term I think it's going to be tough for RIMM to remain at such lofty levels, though and I think after the 1st some of the bigger name momentum tech names should see a nice selloff. I think that's the next sector to look at for some shorting opportunities. The Nasdaq has held up much better relatively speaking, but I think once we get past Window Dressing into end of the month here it's gonna get tough for some of these stocks to motor much higher. We shall see soon enough, but I would watch RIMM more than try to stab at it either way through earnings. 'Nuff Said! Michael "Waxie" Parness

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