Was quite tempting to pick up swing shares of RIMM in after-hours. As Big Ben delivered his speech on the side window of Kudlow's program, RIMM went from below 122 to 122+ within minutes. I did a little chasing with a buy order, but gave up after the stock went over 123. Yeah, had I snagged more shares at 122.10, I would be smiling right now. The stock closed AH trading at 123.50. But I didn't catch it and let it go. My long shares are good, but even with Big Ben's talk about the Fed remaining "flexible," RIMM is still very hot. The stock has run from a low of 96 in the past week-and-a-half.
If RIMM stays hot and runs more in pre-market, fine. But I'm expecting a bit of a selloff back to 122, possibly 121 before it takes off again. Technically, RIMM is due for a healthy pullback sooner than later, but I'm just looking for the best entry point possible for a short-term trade. Learning my lessons.
Long-term, this is not a buy at this entry point. Or is it? The MACD indicates a possible yes. But the stock is floating above all of its moving averages, which tells me no. So who wins: declining volume (bearish) or Big Ben's "flexibility"?
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