{"id":5311,"date":"2011-06-05T17:22:57","date_gmt":"2011-06-05T21:22:57","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=5311"},"modified":"2011-06-05T17:22:57","modified_gmt":"2011-06-05T21:22:57","slug":"buyout-rumors-rim","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/05\/buyout-rumors-rim\/","title":{"rendered":"Even Buyout Rumors Cannot Help RIM"},"content":{"rendered":"<p><strong>(This is an excerpt from an article I published on Seeking Alpha. <a href=\"http:\/\/seekingalpha.com\/article\/273367-even-buyout-rumors-cannot-help-research-in-motion\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>On Friday, briefing.com reported that rumors hit the trading floors that Cisco (CSCO) might make a buyout offer for Research In Motion (RIMM). The rumor was good for a brief 2-hour or so pop before the regularly scheduled selling in RIMM resumed. <\/p>\n<p>{snip}<\/p>\n<p>&#8230;the ugly close for RIMM continued a selling spree that seems to have accelerated once again. Clearly, I was very premature in noting the slowing of RIMM&#8217;s descent and looking ahead to a time the market may start to price in the company&#8217;s return to the market to repurchase its shares (see &#8220;<a href=\"http:\/\/seekingalpha.com\/article\/272358-rimm-s-downward-momentum-finally-slows-as-earnings-come-into-view\">RIMM&#8217;s Downward Momentum Finally Slows as Earnings Come Into View<\/a>&#8220;). <\/p>\n<p>{snip}<\/p>\n<p>In the meantime, RIMM now has no more price support between here and the March, 2009 lows. Very few companies have fallen that far and slamming into such a milestone would be pretty big news. Since <a href=\"http:\/\/www.drduru.com\/money\/080629_PsychologyOfATripleBottom.htm\">I do not believe in triple bottoms<\/a>, such an event would also force me to contemplate something I did not even think was on the radar just a few weeks ago: a break of the March, 2009 lows and testing support dating all the way back to the 2006 lows.<\/p>\n<p>{snip}<\/p>\n<p><center><br \/>\n<figure id=\"attachment_5313\" aria-describedby=\"caption-attachment-5313\" style=\"width: 515px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110603_RIMM.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110603_RIMM.jpg\" alt=\"RIMM approaches a retest of major support\" title=\"RIMM approaches a retest of major support\" width=\"525\" height=\"469\" class=\"size-full wp-image-5313\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110603_RIMM.jpg 525w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110603_RIMM-300x268.jpg 300w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><\/a><figcaption id=\"caption-attachment-5313\" class=\"wp-caption-text\">RIMM approaches a retest of major support<\/figcaption><\/figure><br \/>\n*<strong>Chart created using <a href=\"http:\/\/www.worden.com\/CURRENTAFPROMO.aspx?AFCODE=866\">TeleChart<\/a><\/strong><br \/>\n<\/center><\/p>\n<p>{snip}<\/p>\n<p>Be careful out there!<\/p>\n<p><strong>(This is an excerpt from an article I published on Seeking Alpha. <a href=\"http:\/\/seekingalpha.com\/article\/273367-even-buyout-rumors-cannot-help-research-in-motion\">Click here to read the entire piece<\/a>.)<\/strong><\/p>\n<p>Full disclosure: long RIMM shares and puts, long CSCO<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(This is an excerpt from an article I published on Seeking Alpha. Click here to read the entire piece.) On Friday, briefing.com reported that rumors hit the trading floors that Cisco (CSCO) might make a buyout offer for Research In Motion (RIMM). The rumor was good for a brief 2-hour or so pop before the &#8230; <a title=\"Even Buyout Rumors Cannot Help RIM\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/05\/buyout-rumors-rim\/\">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":[483,219,62],"tags":[254,255,253,252,1597],"class_list":["post-5311","post","type-post","status-publish","format-standard","hentry","category-breakdown","category-high-tech","category-technical-analysis","tag-cisco","tag-csco","tag-research-in-motion","tag-rimm","tag-technical-analysis"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Even Buyout Rumors Cannot Help RIM - 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\/06\/05\/buyout-rumors-rim\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Even Buyout Rumors Cannot Help RIM - 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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