Keep Your Eyes on RIMM

It looks like the news coming from the court is slightly positive. ;-) Here’s a 5-minute chart of the action.

I’m looking for that good ole “dummy” entry, if it ever settles down.

On another note, the Nasdaq has suddenly lifted away from 2,153. Maybe it will be come support now…

Update: 12:55 PM – RIMM isn’t even close to settling down yet and the details of the decision still aren’t public. I think I’ll just sit this one out.

Update: 12:59 PM – Oh the drama! Looks like they finally halted RIMM:

Update: 3:29 PM – It’s trading again and the drama continues. It’s getting waxed… now at $83 and change. I’ll post another chart after the close.

Comments

  1. Posted by Jon on December 14, 2004 at 6:50 pm

    Mike,

    I bought some RIMM just about the time you took this 5-minute bar chart. It looked like it was going to take off again but formed a wedge instead. I adjusted my stop to be just underneath the wedge and got stopped out around $96 when it broke support. I’m glad I didn’t get caught in the halt though. What an exciting day. Lots of money changed hands there real fast, but nothing very useful for me =/

    -Jon

  2. Posted by Michael on December 14, 2004 at 7:10 pm

    I glad you escaped. Gotta love those stops!