Indices closed green......
S&P 500 closed well above 50 DMA...
Nasdaq is only 6.44 points away from 50 DMA.......
Internals were strong....
VIX closed Down 6.1% @ 18.00
AH ER RIMM was a miss on guidance, stock down 10.48%
AH ER ORCL was a beat, stock UP 4.04%
AH Futures UP
AH Asian Markets UP
AH Oil & Gold Down
RIMM...couple of key points for RIMM
RIMM traded 10.2 million shares AH..average volume is 9.8 million shares...
RIMM AH closed @ $57.37...200 DMA is $56.45.....IF we take their $7.50 EPS projection for this year...based on AH last trade, RIMM current PE is 7.65.......
BLOG does NOT give buy or sell.
Saleem
7 comments:
Saleem,
I think RIMM is good for long term based on its current valuation. It is may be good for us to buy at low price. It is just a "hated" stock.
I will double on RIMM if it stays above 200DMA.
Michael
Hi Michael,
3 analysts so far have maintained their rating & price target despite shocker guidance from RIMM.
I think "hated" is justified based on their guidance.....BUT it creates once in a lifetime opportunity..currently bid is $56.42 ..means this year PE is 7.52..
IF we believe their $7.50 EPS..then they will grow their PE this year by 18.48% YOY....IF they do that then it IS an easy DOUBLE in 12 months......
Good luck with your strategy with RIMM
Saleem
I gotta love your enthusiasm for RIMM
CNBC was so negative last night--creating a frenzied mood of sell sell sell
I may hold my shares too. I am way diversified and following my dividend method of buying divi stocks
Am looking at BAP, TYSON, BMY PHG I will pick one I think
The very best to all
SALEEM Muy best to your family and friends
thanks for all your responses
Hi C,
Appreciated your note.
As far as RIMM is concerned...IF you were buying @ today's price of $57+..will you buy ?
IF the answer is YES...then it is wise to HOLD your shares....selling in PANIC is never a good strategy...THINK FIRST then EVALUATE...then DECIDE...
CNBC is NOT KNOWN for THINKING for anybody..they LOVE CREATING HYSTERIA......which gets their rating HIGHER !!!!!
There was a famous song "KNOW when to HOLD them..KNOW when to FOLD them"
CIBC world market is saying this morning "BUY on WEAKNESS"
By the way..RIMM is well above
200 DMA..a sign of "technical strength"......
Thanks for your best wishes for my family & friends......
Saleem
S
this is one strong market
Oils are hot
Do you still think that BAC is a buy or is Ford better
thanks
Hi C,
GS today said BUY BAC.
That is good enough for me....
Saleem
S
thank you
I was looking for a reason to get some BAC
thanks again
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