Today at the open
filed in My Investments on Dec.03, 2008
So I’m just going to write something short since my hosting company somehow messed up backing up my data when I upgraded the software today.
Basically, with the post weekend hangover, Monday was a negative day with people selling off and taking profits which was within reason after a week long rally. My intention was to make some purchases on Monday, but with the volatility, I opted to sit on the sidelines.
Going from a Bear slumber party on Monday to a Bull run Tuesday and again today, I turned my attention to only one stock today, RIMM. With the news out that the company has lowered its outlook for the upcoming quarter(s) based on slump in sales and a weak economy – all that I already called a few weeks back!, the price targets were dropped.
RIMM is now pegged to have a target of only $70/share which is much lower than previous and I doubt that will come any time soon. My bullish price is $60/share tops.
Today the price almost hit $35/share and my limit price was not met. I had planned on getting 100 shares at $35/share but the lowest the price went was around $35.09. I will see how the week runs and will stick to my low end buy in as I can see this coming down again pretty soon before a sustained rally can proceed.
Happy Investing!
Aman, MBA
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December 3rd, 2008 on 7:56 pm
Got in at $36 with 50 shares. Lets see where this goes, its already up for me!!!
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December 4th, 2008 on 1:54 pm
I had my limit set for $35 GTC but changed it, a trade went in at around $32 after/before the close. The spike today has stopped and its been falling like a rock in the last 1 hour today. If I can get in even lower (32-33/share) I will feel comfortable.
I hope you sold or have a stop loss put in place to lower risk of falling through the floor.
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