Thursday, December 14, 2006

My Stock of the Day is Research In Motion (RIMM)

Yesterday I took a trading long in RIMM as the stock bounced off support at its 50-day moving average. The stock picked up strength yesterday into the close.

Today, it is getting a nice pop on bullish comments from Amtech and RBC. Amtech upped its target to $175, and said it expects RIMM to "blow-out" guidance next week, and that it would be an aggressive buyer ahead of the quarter. RBC said it expects the company to raise guidance due to strong Pearl sell-through.

This is just a trade for me, so I can't say that I will still be around for next week's earnings report. The last earnings report was obviously a huge catalyst for the recent run, so it's reasonable to expect another strong quarter. But the risks have increased also, due to the lofty valuation.
Other stocks making notable, high-volume moves include:
  • LNET
  • DWSN
  • RBAK
  • AXR
  • CRVL
  • RIMM
  • DAKT
  • ININ
  • ASFI
  • STST
  • GMXR
  • SIRF
  • NTRI
  • IPS



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