Indices closed down .49% to .54% on weaker durable goods.....

Indices were facing a rough start, after durable goods came in lower than expected.

S&P 500 low was 1397.20, closing @ 1405.54.High for 2012 was 1419.15. The pullback so far was 21.95 points or 1.55%.

RSI @ 62.12

Internals were :

Down volume led by 2.62 to 1 in NYSE & 2.26 to 1 in Nasdaq

Declining stocks led by 1.69 to 1 in NYSE & 1.87 to 1 in Nasdaq

New 52 wk highs were in the lead again, 55 in NYSE & 77 in Nasdaq

VIX closed Down .77% @ 15.47

Oil closed Down @ $105.41

Gold closed Down @ $1657.90

AH ER :

MOS Down 1.8%

RHT UP 8.58%

AH Futures Down

AH Asian Markets Down

AH Oil & Gold UP

About market, indices continue to show resiliency despite weak economic news today. TAPE today was typical of mild pullback which we have seen since end of October. These minor pullbacks gives an entry point to many traders, who are very quick in getting on board.IBD is saying "market under pressure"

RIMM reports AH.

Here is the consensus of  about 48 to 49 analysts who cover RIMM. 47 of those analysts are well defined bears. Only 2 have positive take on RIMM based on valuation / potential. In my entire trading / investing of multiple decade, i have never come across negativity with disdain for any other company.

Sales consensus Q4 ending Feb 2012 $4.53 Billion
EPS consensus Q4 81 cents

This will give RIMM consensus Sales for FY ending Feb 2012 of $18.77 billion
EPS Consensus $4.14

Guidance consensus for Q1 FY 2013 Sales $4.26 billion, EPS consensus 66 cents
Consensus for YE Feb 2013 is Sales of $17.32 Billion & EPS of $2.74.......

RIMM closed today @ $13.67.....PE for current transition year of 2013 is 4.99

What amazes me as a fundamental analyst, how can Wall Street justify such a low PE when sky is suppose to be falling for RIMM, Still they are projecting $2.74 cents in earning, for next four quarters?

Option is predicting a move of 15% after earning is out, that will be a move +- of $2.05......

BLOG does NOT give buy or sell.

Saleem