SSS - RIMM testing 200-dma
RIMM is breaking here and is right at the 200-dma as we type here as furiously as we can. It may not hold the 200-dma, and we would look at any failure through the 200-dma on the downside to be a spot to add. Gil is playing this very heavily right now with a 120% position, so the 200-dma is critical for how he will handle the position here. If it fails at the 200-dma we could go ALL IN, e.g, 200%-400%. That, my friends, is how one makes about 100% in one month on the short side as Gil did in May. So watch this one for the ride...a bounce off the 200-dma might mean a short-term tactical short-sale cover with the idea of re-shorting up a bit higher. However, if you are playing a more "sane" position you can probably afford to give it some room here. In any case, the beauty of RIMM is that it is very liquid, and moving blocks of 5K-10K pper mouse-click is pretty easy, and Gil could care less if it kicks the stock up or down a nickel in the process..
This information is provided by Virtue of Selfish Investing, LLC (VoSI) is issued solely for informational purposes and does not constitute an offer to sell or a solicitation of an offer to buy securities. Information contained herein is based on sources which we believe to be reliable but is not guaranteed by us as being accurate and does not purport to be a complete statement or summary of available data. VoSI reports are intended to alert VoSI members to technical developments in certain securities that may or may not be actionable, only, and are not intended as recommendations. Past performance is not a guarantee, nor is it necessarily indicative, of future results. Opinions expressed herein are statements of our judgment as of the publication date and are subject to change without notice. Entities including but not limited to VoSI, its members, officers, directors, employees, customers, agents, and affiliates may have a position, long or short, in the securities referred to herein, and/or other related securities, and may increase or decrease such position or take a contra position. Additional information is available upon written request. This publication is for clients of Virtue of Selfish Investing, LLC. Reproduction without written permission is strictly prohibited and will be prosecuted to the full extent of the law. ©2013 Virtue of Selfish Investing, LLC. All rights reserved.