Indices pulled back @ close from record highs....

All three Indices went to new highs intraday...BUT gave up most of the gains & went lower in S&P 500 & Nasdaq..Dow barely stayed green @ close......

Strength of this market is obvious with new 52 wk highs list as listed below for tonight :

NYSE 647 & Nasdaq 403

& 52 wk Lows were 4 each

RIMM as expected came out with many news on day 1 of their 3 day Wireless Enterprise Symposium know as WES...where each year they showcase products & Vision for coming year...where shorts took control of the stock till 2 PM with partial announcement ...on 12 million shares shorts took the stock down to $68.44 almost a $ below 200 DMA.....BUT @ 2 PM RIMM showcased their new Operating System with a video presentation...OS 6.0 had a WOW factor for most analysts attending including Peter Misek..who had very nice things to say about this OS which comes out in about 6 weeks......On this presentation stock erased all the loss & moved UP $4.37 from low on an impressive volume of 20+ million shares buy program...total volume 32.2 million for the day (daily average volume is 14.06 million share)........This was the most impressive technical turnaround in few hours which I have ever observed.....Not only RIMM went above 200 DMA but also closed above 50 DMA.....

BUT..our famous Jimmy the Cramer "the know all GURU" commented " RIMM should NOT have moved UP & its Operating System is NONSENSE..so sell sell sell......WOW..I am impressed with his hurting short position....is all i can say........who only last week said that RIMM will take out its old HIGH ???

AH TXN ER was a beat & guide UP...UP only 9 cents AH as it was widely expected.....most Semis were UP in sympathy....

AH Futures are green

AH Asia is Down

AH Oil ,Silver Down

AH Gold UP

BLOG does NOT give buy or sell.

Saleem