{"id":5715,"date":"2011-06-24T01:31:30","date_gmt":"2011-06-24T05:31:30","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=5715"},"modified":"2011-06-24T21:08:12","modified_gmt":"2011-06-25T01:08:12","slug":"rimm-finally-bottom","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/24\/rimm-finally-bottom\/","title":{"rendered":"Chart Review: Can RIMM Finally Stake Out A Bottom?"},"content":{"rendered":"<p>Research In Motion (RIMM) has been locked in a steep downtrend since February and printed its post-recession highs in September, 2009, so it is hazardous to make any upside predictions for the stock (for example, &#8220;<a href=\"http:\/\/seekingalpha.com\/article\/274954-judgment-day-for-research-in-motion-could-yield-upside-surprise\">Judgment Day for Research In Motion Could Yield Upside Surprise<\/a>&#8220;). However, I could not resist making the observation that RIMM is finally demonstrating more upside momentum than it has in a very long time. <\/p>\n<p><center><br \/>\n<figure id=\"attachment_5716\" aria-describedby=\"caption-attachment-5716\" style=\"width: 515px\" class=\"wp-caption aligncenter\"><a href=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110623_RIMM.jpg\"><img loading=\"lazy\" decoding=\"async\" src=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110623_RIMM.jpg\" alt=\"Buyers are finally showing up for RIMM\" title=\"Buyers are finally showing up for RIMM\" width=\"525\" height=\"466\" class=\"size-full wp-image-5716\" srcset=\"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110623_RIMM.jpg 525w, https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2011\/06\/110623_RIMM-300x266.jpg 300w\" sizes=\"auto, (max-width: 525px) 100vw, 525px\" \/><\/a><figcaption id=\"caption-attachment-5716\" class=\"wp-caption-text\">Buyers are finally showing up for RIMM<\/figcaption><\/figure><br \/>\n*<strong>Chart created using <a href=\"http:\/\/www.worden.com\/CURRENTAFPROMO.aspx?AFCODE=866\">TeleChart<\/a><\/strong><br \/>\n<\/center><br \/>\n<\/p>\n<p>Buying volume is strong. The stock has now made a post-earnings collapse high, albeit marginally. At a minimum, the post-earnings low has become a clear line drawn in the sand as <a href=\"http:\/\/seekingalpha.com\/article\/275464-research-in-motion-chooses-again-to-repurchase-shares\">RIMM prepares to buyback stock as early as July 10<\/a>. <\/p>\n<p>As my latest puts slowly erode, my overall position has become net long again. I do not plan on buying any more puts on RIMM and will instead ride this out for whatever it is worth. I plan to monitor trading in the stock more closely as July 10 approaches.<\/p>\n<p>Be careful out there!<\/p>\n<p>(<a href=\"http:\/\/drduru.com\/onetwentytwo\/tag\/rimm\/\">Click here<\/a> for archived commentary on RIMM)<\/p>\n<p>Full disclosure: long RIMM shares and puts<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Research In Motion (RIMM) has been locked in a steep downtrend since February and printed its post-recession highs in September, 2009, so it is hazardous to make any upside predictions for the stock (for example, &#8220;Judgment Day for Research In Motion Could Yield Upside Surprise&#8220;). However, I could not resist making the observation that RIMM &#8230; <a title=\"Chart Review: Can RIMM Finally Stake Out A Bottom?\" class=\"read-more\" href=\"https:\/\/drduru.com\/onetwentytwo\/2011\/06\/24\/rimm-finally-bottom\/\">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":[219,511,62],"tags":[253,252,1597],"class_list":["post-5715","post","type-post","status-publish","format-standard","hentry","category-high-tech","category-support","category-technical-analysis","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>Chart Review: Can RIMM Finally Stake Out A Bottom? - 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\/24\/rimm-finally-bottom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chart Review: Can RIMM Finally Stake Out A Bottom? - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"Research In Motion (RIMM) has been locked in a steep downtrend since February and printed its post-recession highs in September, 2009, so it is hazardous to make any upside predictions for the stock (for example, &#8220;Judgment Day for Research In Motion Could Yield Upside Surprise&#8220;). 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