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TFC Commodity Trading Forum

RIMM/ Same Pattern as Nat Gas *PIC*

RIMM is a hated forgotten stock in the same way Nat Gas was. Even the charts are the same. Everyone who owned it got burned and now Apple is the 'Belle of the Ball" stock that is eating RIMM's lunch. So price has fallen from the Feb 2011 high of over $70 to a double bottom of around $6.50 with every analyst so disgusted with it that they don't even talk about it anymore other than the occasional scorn and ridicule. Say you are going to buy RIMM in a crowd of traders and they'll laugh their a$$ off at you. That alone is a bullish sign. This is a perfect example of a high profile stock that has crashed and burned 'in price' but still has millions in the bank and is still a very viable company with world wide customers. It is only doing poorly "relative" to Apple. So I suspect that smart money that has finally driven this stock into the ground will see this double bottom and channel that RIMM is trading in and buy it in here or over the breakout if and when that occurs. Remember "If it's obvious,It's obviously wrong." Don't be surprised to see this stock at $12 to $18 or higher in the future. And even a weak Fib 38.2% retracement level from the Feb/11 high of over $70 to recent lows is well over $30. Bottom line: watch the channel lines for a breakout or breakdown to determine direction.