I am amazed right now. Let me quickly go back to Wednesday when I posted a few stocks to watching before their earnings were posted. I did talk about (RAD) and (RIMM). Well Rite Aid popped today over 20% from its bottom but even better is a stock that I got into…RIMM…Research in Motion is on track to bounce back and I’m long on this. I got in today early with a position of 100 shares at $47.77 and look at the after-hours…post earnings, after beating the estimates like I assumed, its up a whopping $10/share and about $59/share. Not a bad potential profit of about $1000. Hopefully some people that read this see how simple it is.

Now with the rest of the movements on Thursday, the DOW finally pressed over 8000 for the first time in 2 months, really good movements and rallies on the markets are starting to yield a good return on a daily basis. Here is the market summary for Thursday:

A stock that I did get into today was based on news that affects its competition. MGM announced today that they were getting financing for a project which in turn pushed other casino stocks higher. Yesterday I was talking about (LVS) and today I set a limit order at $4/share for 1000 shares. Just after the opening pop, the stock did pull back a bit before jumping. I did not anticipate the dramatic rally at my sell price was $4.30 which was hit before the price peaked and fell back.

Total profit on (LVS) = $300

For Friday, the indicators to watch:
8:30AM Employment Report for March.
9:40AM Leading Inflation Indexes for March.
10:00AM ISM Services Survey for March.
10:30AM Weekly Leading Index.

Friday News:
Research In Motion Ltd.’s (RIMM) shares jumped almost 22% in after-hours trading after the company offered better-than-expected first-quarter earnings and margin guidance. The BlackBerry maker forecasted first-quarter net of 88-97 cents a share on revenue of $3.3-$3.5 billion. The Thomson Reuters analyst mean estimates were for earnings of 82 cents a share on revenue of $3.35 billion. Link.

International Business Machines Corp. and Sun Microsystems Inc. are negotiating a takeover that values Sun at $9 to $10 a share, people familiar with the matter said. Link.

Online video games maker Changyou.com (CYOU.O) closed up 25 percent in its trading debut on Thursday, making it the most successful stock launch in nearly a year. Link.

Hopes that the worst days of the financial crisis are retreating lifted stock markets on Thursday, as once-dismal investors cheered pledges of huge new financial rescues and moves to rewrite financial regulations and accounting rules. Link.

Micron Technology on Thursday reported a narrower quarterly loss but also posted a drop in sales as the semiconductor continued to reel from the demand glut in the memory chip-maker market. I also mentioned this stock on the earnings watchlist yesterday and it was up 10% today. Not bad!. Link.

Friday I will probably not hit the market for a trade, I’m going to sell a portion of my (RIMM) position while riding the remainder. At times I wish I held onto my (AAPL) stock from last month since its still getting higher, but like I tell my self, a small profit is still better than no profit!

Happy Investing!

Aman, MBA

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