Thursday, August 10, 2006

Trade of the Day - Research In Motion NASDAQ (RIMM)

I'm glad I had RIMM on last night's watch list, otherwise I might have missed this move altogether. I know I called it wrong, but at least it was on the radar. RIMM got a boost from Amtech this morning on raised estimates in anticipation of a strong new handset line-up. Having missed the actual breakout, I waited to a low risk entry. I locked in 50% profit after 2 pts. as price approached my resistance area and I managed to hold the rest into the close. This was my only trade today as everything else in front of me was NR.

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