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..
SSS - RIMM testing 200-dma
|Published:||20 Dec 2010 15:36 ET|
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