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To: rx4pain who wrote (18665)2/1/2001 10:57:51 AM
From: brk  Respond to of 19374
 
IMNX bottomed out at 30 again yesterday afternoon and again this morning. If it wasn't like watching the paint dry on the walls, I'd think about re entering here with what looks to be solid support.

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To: rx4pain who wrote (18665)2/1/2001 12:16:00 PM
From: Walkingshadow  Respond to of 19374
 
rx,

Both RIMM and QQQ showing some strength at the moment along with the market in general.

However, if you look at the intraday 10 min chart, you will see that the all-important 200 min ema is downsloping, and RIMM is rallying up towards it, and weakening technically as I write this.

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IMHO, this is a good entry for a short, but a much better one (and more prudent) would be as it rebounded down from the 200 min ema. The first type of entry anticipates the move, but is lower probability because although the 200 min is downsloping, there is the chance that RIMM will rally right through it and begin a short-term uptrend. This is unlikely, but certainly possible. However, if RIMM tests the downsloping 200 min and fails, the probability that it will keep moving down is much higher IMHO.

If RIMM never reaches the 200 min ema but fails at the 50 ema or 100 ema, then I would short on the second bearish candle as it failed at overhead, not before.

JMVHO, as always........

WS