SSS - Research in Motion (RIMM) Wedging Up Into Resistance at 50-dma
Research in Motion (RIMM) is also hitting our radar screens as a potential short-sale target. Here we might look for the lows of late August under 45 to be tested if the stock is unable to get above resistance at the 50-day moving verage and the 50 price area. Again, if the general market pulls off for a few days tactical short-sale set-ups can be profitable, so watch for general market weakness as confirmation. Listen to Gil at 6:45 a.m. Pacific Time, 9:45 Eastern Time, this Monday October 25th on KFNN for more on shortselling in this current environment.
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.