{"id":4713,"date":"2011-05-02T11:05:51","date_gmt":"2011-05-02T15:05:51","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=4713"},"modified":"2011-05-02T11:05:51","modified_gmt":"2011-05-02T15:05:51","slug":"rim-warns-mgmt-firm","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/05\/02\/rim-warns-mgmt-firm\/","title":{"rendered":"RIM Warns, Management Holds Firm, and Market Continues to Lose Confidence"},"content":{"rendered":"

(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece<\/a>.)<\/strong><\/p>\n

After listening to Research In Motion’s conference call explaining the company’s downward guidance Thursday night<\/a>, I thought I would write a piece just as bullish as management’s insistence that longer-term upside prospects remain unchanged. However, writing out my notes and thoughts changed my mind, placing me right back on the fence regarding Research In Motion (RIMM).<\/p>\n

\u2026The conference call explaining this guidance had a very short intro that stuck to the script from the press release. It was next dominated by the questions of three analysts to which management provided lengthy responses. It was clear very quickly that the credibility of RIMM\u2019s management had taken a huge hit. Management responded with a sometimes near-strident defense of the company and repeatedly referred to the company\u2019s innovation and promising long-term prospects. However, the confident explanations that this miss was mainly about the natural bumps in a technology innovation cycle seemed to ring hollow. I could also hear hints of what must be management\u2019s disappointment with the miss and frustration at being let down by the current bump in the road\u2026<\/p>\n

\u2026I think the signature quote from the call was this unapologetic pronouncement: \u201cWelcome to the reality of this transition.\u201d<\/p>\n

The overall technical outlook for RIMM continues to slowly erode, and this latest breakdown has me more comfortable being net short in the near-term\u2026<\/p>\n


\n
\"After<\/a>
After two breakdowns, RIMM is testing its October lows<\/figcaption><\/figure>
\n
\n
\"RIMM's<\/a>
RIMM's brief momentum off the March, 2009 lows has slowly eroded<\/figcaption><\/figure>
\n*All charts created using TeleChart:<\/strong> <\/a>
\n<\/center>
\n<\/p>\n

(Click here to read the rest of this piece, including my notes from the conference call, on Seeking Alpha<\/a>.)<\/strong><\/p>\n

(Click here for my archived commentary on RIMM<\/a>, including notes on all the buybacks over the past two years).<\/p>\n

Be careful out there!<\/p>\n

Full disclosure: net short RIMM, long AAPL<\/p>\n","protected":false},"excerpt":{"rendered":"

(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece.) After listening to Research In Motion’s conference call explaining the company’s downward guidance Thursday night, I thought I would write a piece just as bullish as management’s insistence that longer-term upside prospects remain unchanged. However, writing … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[483,220,219,62],"tags":[250,534,253,252,1597],"class_list":["post-4713","post","type-post","status-publish","format-standard","hentry","category-breakdown","category-earnings","category-high-tech","category-technical-analysis","tag-aapl","tag-apple-inc","tag-research-in-motion","tag-rimm","tag-technical-analysis"],"yoast_head":"\nRIM Warns, Management Holds Firm, and Market Continues to Lose Confidence - ONE-TWENTY TWO: Trading Financial Markets<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/drduru.com\/onetwentytwo\/2011\/05\/02\/rim-warns-mgmt-firm\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RIM Warns, Management Holds Firm, and Market Continues to Lose Confidence - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"(This is an excerpt from an article I published on Seeking Alpha. 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