{"id":605,"date":"2009-11-29T23:04:22","date_gmt":"2009-11-30T04:04:22","guid":{"rendered":"http:\/\/drduru.com\/onetwentytwo\/?p=605"},"modified":"2009-11-30T00:35:03","modified_gmt":"2009-11-30T05:35:03","slug":"rimm-weakness-persists","status":"publish","type":"post","link":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/","title":{"rendered":"RIMM’s Weakness Persists Despite Initiation of Share Buyback"},"content":{"rendered":"

The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program<\/a>. Overall daily volume surged for three days along with price. The stock then stopped cold directly under the 200-day moving average (DMA) and volume snapped back to “normal” levels. <\/p>\n

Within six trading days, all the buyback-related gains were erased. Friday’s close completed the roundtrip with a close under under Nov 9’s low. In my earlier post<\/a>, I also claimed that RIMM’s buyback pattern from 2005 suggested that the dollar volume from the three days of buying indicated RIMM had finished its buyback activity for the fiscal quarter. So far, this roundtrip action seems to confirm that assessment. The fiscal quarter ends November 30th.<\/p>\n

The chart below chronicles the trading action in RIMM:<\/p>\n


\n
\"RIMM
RIMM shares have made a roundtrip since the buyback apparently started<\/figcaption><\/figure>
\n*Chart created using TeleChart:<\/strong> <\/a>
\n<\/center>
\n<\/p>\n

This quick resumption of weakness does not bode well for the stock or the near-term success of the buyback program. With earnings still three weeks away, there remains plenty of time for a test of the November lows before the next stock-related catalyst. On a rebound, I will be looking for another failure at resistance from the 50DMA which is sloping rapidly downward. The 200DMA is likely to turn downward within another week or so.<\/p>\n

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

Full disclosure: no positions<\/p>\n","protected":false},"excerpt":{"rendered":"

The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program. Overall daily volume surged for three days along with price. The stock then … 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":[135,62],"tags":[256,253,252,257],"class_list":["post-605","post","type-post","status-publish","format-standard","hentry","category-stock-market-trading","category-technical-analysis","tag-buyback","tag-research-in-motion","tag-rimm","tag-share-repurchase"],"yoast_head":"\nRIMM's Weakness Persists Despite Initiation of Share Buyback - 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\/2009\/11\/29\/rimm-weakness-persists\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RIMM's Weakness Persists Despite Initiation of Share Buyback - ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"og:description\" content=\"The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program. Overall daily volume surged for three days along with price. The stock then ... Read more\" \/>\n<meta property=\"og:url\" content=\"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/\" \/>\n<meta property=\"og:site_name\" content=\"ONE-TWENTY TWO: Trading Financial Markets\" \/>\n<meta property=\"article:published_time\" content=\"2009-11-30T04:04:22+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2009-11-30T05:35:03+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/11\/091127_RIMM1.jpg\" \/>\n<meta name=\"author\" content=\"Dr. Duru\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@drduru\" \/>\n<meta name=\"twitter:site\" content=\"@drduru\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Dr. Duru\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/\"},\"author\":{\"name\":\"Dr. Duru\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"headline\":\"RIMM’s Weakness Persists Despite Initiation of Share Buyback\",\"datePublished\":\"2009-11-30T04:04:22+00:00\",\"dateModified\":\"2009-11-30T05:35:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/\"},\"wordCount\":269,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/11\\\/091127_RIMM1.jpg\",\"keywords\":[\"buyback\",\"Research In Motion\",\"RIMM\",\"share repurchase\"],\"articleSection\":[\"Stock Market Trading\",\"Technical Analysis\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/\",\"name\":\"RIMM's Weakness Persists Despite Initiation of Share Buyback - ONE-TWENTY TWO: Trading Financial Markets\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/11\\\/091127_RIMM1.jpg\",\"datePublished\":\"2009-11-30T04:04:22+00:00\",\"dateModified\":\"2009-11-30T05:35:03+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#primaryimage\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/11\\\/091127_RIMM1.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2009\\\/11\\\/091127_RIMM1.jpg\",\"width\":\"525\",\"height\":\"450\",\"caption\":\"RIMM shares have made a roundtrip since the buyback apparently started\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/2009\\\/11\\\/29\\\/rimm-weakness-persists\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"RIMM’s Weakness Persists Despite Initiation of Share Buyback\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#website\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/\",\"name\":\"ONE-TWENTY TWO: Trading Financial Markets\",\"description\":\"Exploring the poetry in financial markets for students of money and economy since the year 2000.\",\"publisher\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":[\"Person\",\"Organization\"],\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/#\\\/schema\\\/person\\\/d9569fde6c701b021a8d958f775be9a0\",\"name\":\"Dr. Duru\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"url\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"contentUrl\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\",\"width\":900,\"height\":100,\"caption\":\"Dr. Duru\"},\"logo\":{\"@id\":\"https:\\\/\\\/drduru.com\\\/onetwentytwo\\\/wp-content\\\/uploads\\\/2018\\\/09\\\/cropped-masthead-header.jpg\"},\"sameAs\":[\"http:\\\/\\\/www.drduru.com\\\/onetwentytwo\",\"https:\\\/\\\/www.instagram.com\\\/drduru_market_breadth\\\/\",\"https:\\\/\\\/x.com\\\/drduru\"]}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"RIMM's Weakness Persists Despite Initiation of Share Buyback - ONE-TWENTY TWO: Trading Financial Markets","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/","og_locale":"en_US","og_type":"article","og_title":"RIMM's Weakness Persists Despite Initiation of Share Buyback - ONE-TWENTY TWO: Trading Financial Markets","og_description":"The weakness in the shares of Research In Motion (RIMM) persists despite the company’s apparent initiation of its share buyback program on November 9, 2009. Two weeks ago, I used intra-day trading action to suggest that RIMM launched its share buyback program. Overall daily volume surged for three days along with price. The stock then ... Read more","og_url":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/","og_site_name":"ONE-TWENTY TWO: Trading Financial Markets","article_published_time":"2009-11-30T04:04:22+00:00","article_modified_time":"2009-11-30T05:35:03+00:00","og_image":[{"url":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/11\/091127_RIMM1.jpg","type":"","width":"","height":""}],"author":"Dr. Duru","twitter_card":"summary_large_image","twitter_creator":"@drduru","twitter_site":"@drduru","twitter_misc":{"Written by":"Dr. Duru","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#article","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/"},"author":{"name":"Dr. Duru","@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"headline":"RIMM’s Weakness Persists Despite Initiation of Share Buyback","datePublished":"2009-11-30T04:04:22+00:00","dateModified":"2009-11-30T05:35:03+00:00","mainEntityOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/"},"wordCount":269,"commentCount":0,"publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/11\/091127_RIMM1.jpg","keywords":["buyback","Research In Motion","RIMM","share repurchase"],"articleSection":["Stock Market Trading","Technical Analysis"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/","url":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/","name":"RIMM's Weakness Persists Despite Initiation of Share Buyback - ONE-TWENTY TWO: Trading Financial Markets","isPartOf":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#website"},"primaryImageOfPage":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#primaryimage"},"image":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#primaryimage"},"thumbnailUrl":"http:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/11\/091127_RIMM1.jpg","datePublished":"2009-11-30T04:04:22+00:00","dateModified":"2009-11-30T05:35:03+00:00","breadcrumb":{"@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#primaryimage","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/11\/091127_RIMM1.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2009\/11\/091127_RIMM1.jpg","width":"525","height":"450","caption":"RIMM shares have made a roundtrip since the buyback apparently started"},{"@type":"BreadcrumbList","@id":"https:\/\/drduru.com\/onetwentytwo\/2009\/11\/29\/rimm-weakness-persists\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/drduru.com\/onetwentytwo\/"},{"@type":"ListItem","position":2,"name":"RIMM’s Weakness Persists Despite Initiation of Share Buyback"}]},{"@type":"WebSite","@id":"https:\/\/drduru.com\/onetwentytwo\/#website","url":"https:\/\/drduru.com\/onetwentytwo\/","name":"ONE-TWENTY TWO: Trading Financial Markets","description":"Exploring the poetry in financial markets for students of money and economy since the year 2000.","publisher":{"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/drduru.com\/onetwentytwo\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":["Person","Organization"],"@id":"https:\/\/drduru.com\/onetwentytwo\/#\/schema\/person\/d9569fde6c701b021a8d958f775be9a0","name":"Dr. Duru","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","url":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","contentUrl":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg","width":900,"height":100,"caption":"Dr. Duru"},"logo":{"@id":"https:\/\/drduru.com\/onetwentytwo\/wp-content\/uploads\/2018\/09\/cropped-masthead-header.jpg"},"sameAs":["http:\/\/www.drduru.com\/onetwentytwo","https:\/\/www.instagram.com\/drduru_market_breadth\/","https:\/\/x.com\/drduru"]}]}},"_links":{"self":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/605","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/comments?post=605"}],"version-history":[{"count":5,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/605\/revisions"}],"predecessor-version":[{"id":611,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/posts\/605\/revisions\/611"}],"wp:attachment":[{"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/media?parent=605"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/categories?post=605"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/drduru.com\/onetwentytwo\/wp-json\/wp\/v2\/tags?post=605"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}