Last week’s selloff is this week’s strong buy. (October 02, 2012)
BBRY
I’m Dan Fitzpatrick at StockMarketMentor.com on Tuesday, October 2nd. I want to look at Research In Motion ( $RIMM Research In Motion Limited (USA) ). Marketing, a lot of stocks were just kind of basically flat today but Research In Motion ( $RIMM Research In Motion Limited (USA) ), after gapping up on Friday, it was an obvious sell; the stock gapped way up on earnings, I think I covered this in this forum, in the Chart Of The Day, the thing started trading down like at nine thirty one; well now it’s a different story because we had this little box here where this was the high and then Monday was the intraday low, this was the box. Well, now Research In Motion ( $RIMM Research In Motion Limited (USA) ) is breaking out to the upside; this is a long, this is a stock that you want to be long. I have no idea how far it’s going but I do know this, after a big move on Friday like that and a big decline, if the stock does not continue to go down, that is a bullish sign. If the stock of course does continue to go down then you don’t want to be involved in that; you just want to stand aside, let the thing come down maybe to support and then buy it if you’re a glutton for punishment. But here that’s just not the case. The fact that the stock closed above Friday’s intraday high of eight twenty is a big deal so I would suggest getting long this stock, trade cautiously, that’s for certain, that’s always the case, but this is a nice base on Research In Motion ( $RIMM Research In Motion Limited (USA) ) looks like it’s got some more upside. Okay members; get over to the Strategy Session. I’ve got like seventeen stocks that I want to take a look at and some are totally actionable now; so we’ll see you there. Free Chart