June 16, 2013
- in Uncategorized by schooloftrade
My Father & RIMM says this is a perfect time to buy
Happy Father’s Day to the amazing Dad’s
out there! You may not consider yourself
to be amazing, but I’ll bet your kids certainly do! Have a great day.
out there! You may not consider yourself
to be amazing, but I’ll bet your kids certainly do! Have a great day.
Like many of
us, I spoke with my Father this afternoon about the usual topics; we spoke
about the trade rumors for the Celtics, how excited we were to have the Bruins
playing for the Stanley Cup, how scared of the Red Sox we are and of course we talked about the stocks he was
watching.
us, I spoke with my Father this afternoon about the usual topics; we spoke
about the trade rumors for the Celtics, how excited we were to have the Bruins
playing for the Stanley Cup, how scared of the Red Sox we are and of course we talked about the stocks he was
watching.
My father,
like many of you, is managing a retirement portfolio that has been beaten-up
over the last few years and is trying to make decisions on his own without the
help of an asset-manager. This morning
he wanted my opinion on a company called Research In Motion,
which was the creator of the Blackberry mobile smartphone over a decade ago.
like many of you, is managing a retirement portfolio that has been beaten-up
over the last few years and is trying to make decisions on his own without the
help of an asset-manager. This morning
he wanted my opinion on a company called Research In Motion,
which was the creator of the Blackberry mobile smartphone over a decade ago.
The question
for me this morning was, ‘would you recommend a buy on this stock right now’.
for me this morning was, ‘would you recommend a buy on this stock right now’.
Apparently he feels that the Blackberry is
about to make a comeback! I trade Crude
Oil futures every day, I do NOT trade stocks because it’s not my focus, but I
was intrigued to see if my father and his insights were in line with the
technical patterns I use to trade the futures markets.
about to make a comeback! I trade Crude
Oil futures every day, I do NOT trade stocks because it’s not my focus, but I
was intrigued to see if my father and his insights were in line with the
technical patterns I use to trade the futures markets.
My father has perfect timing; the
technical analysis of RIMM says this is a perfect time to buy
technical analysis of RIMM says this is a perfect time to buy
 |
| RIMM DAILY |
You can see
from the chart that RIM has made new high-highs which prompted me to look for
the best location to buy this stock before it goes back up again. We have identified the buy-zone from 10.84 up
to 12.27 with an exit level below 10.59 and 2 profit-targets overhead as well
as a runner target so we can catch the big move if it occurs.
from the chart that RIM has made new high-highs which prompted me to look for
the best location to buy this stock before it goes back up again. We have identified the buy-zone from 10.84 up
to 12.27 with an exit level below 10.59 and 2 profit-targets overhead as well
as a runner target so we can catch the big move if it occurs.
 |
| RIMM WEEKLY |
The weekly
chart of RIMM shows an even more important clue today, which is that we have
clearly enough room to move back up to the recent highs on the daily chart, but
we can see there was a divergence signal at the lows of 6.22 and we can see a swing-high
at 33.54.
chart of RIMM shows an even more important clue today, which is that we have
clearly enough room to move back up to the recent highs on the daily chart, but
we can see there was a divergence signal at the lows of 6.22 and we can see a swing-high
at 33.54.
These weekly
chart clues tell me there were technical reasons why this price moved higher
off its multi-year lows of 6.22, and if we can successfully close above the
20.00 level we can easily see this price moving up to 33.54 which would make
this a very profitable trade.
chart clues tell me there were technical reasons why this price moved higher
off its multi-year lows of 6.22, and if we can successfully close above the
20.00 level we can easily see this price moving up to 33.54 which would make
this a very profitable trade.
My
recommendation to my father was to risk less than 2% of his portfolio on this
trade because it has room to move lower (10.84) but if he feels that the
marketplace has demand for this company, the technical agree that this is a
good time to buy. Profit-targets above us
are 15.24, 17.00, 19.00, 24.20 and 33.54. Stop-loss to exit the position is a
daily candle closing below 10.59.
recommendation to my father was to risk less than 2% of his portfolio on this
trade because it has room to move lower (10.84) but if he feels that the
marketplace has demand for this company, the technical agree that this is a
good time to buy. Profit-targets above us
are 15.24, 17.00, 19.00, 24.20 and 33.54. Stop-loss to exit the position is a
daily candle closing below 10.59.
Thanks for
reading, Join today!
reading, Join today!
