Wednesday, September 26, 2007

Trade Update: Research In Motion (RIMM)

Research In Motion (RIMM) has certainly had a nice run recently, and investors may be asking themselves if it's time to take a little off the table.

The Citigroup analyst started it with a Buy today and a $115 target. He said that the recent stock price appreciation is fundamental, not momentum. He believes RIMM is just hitting critical mass adoption.

He may be right, but I am still tempted to ring the register before the company reports earnings next week. My gut tells me anything but a blowout report will result in a 'sell the news' reaction.

I will likely take profits on half my position, and let the rest ride. I still like the stock as an investment, but also like to trade around my positions.

long RIMM


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