ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
RIMM officially began its share repurchase period on Monday, November 9. Since then, the intra-day trading seems to provide evidence that RIMM (or some other large buyer!) has gone to work purchasing shares. The chart below shows a 10-day chart of RIMM with trading broken into 30-minute blocks. The first 30-minutes of trading on Monday, … Read more
On a strong market day, RIMM opened up over 2% and, at the time of writing, is up over 4% on the day. RIMM’s share repurchase period begins today, and, so far, so good for propping up the stock. Yesterday, I expressed my doubts that RIMM would spend the entire $1.2B that its board authorized, … Read more
On November 5, Research In Motion (RIMM) announced a buyback of up to $1.2B in shares starting November 9 and lasting for up to a year. When I read this announcement, I pounced on the stock the minute pre-market trading opened. This was quite a mental exercise for me because I had just closed out … Read more