Do you do well day trading rimm?[/QUOTE]
The opportunities are there to do very well day trading RIMM - but it is tough sometimes - and I lost a bit when I first started trading it.
However the more I trade it the more success I am having - cos when you call this one right it tends to run and run. It is not for those with a nervous disposition though cos it moves so quick - and quite often retests support levels and takes out stops before resuming the move.
Today there was a shorting opp. as the stock was way overbought from yesterdays run up and extended above the 20MA on the hourly chart - and after a gap up at opening didn`t run away with the market. The Oil spike today helped the short move after lunch in the US
The 5 min chart then showed a long opp. as the price met resistance at the 200MA. After a 50% retracement there was another short opp.
I find you have to be very disciplined and very fast to capitalise - characteristics that I am still working on !
The opportunities are there to do very well day trading RIMM - but it is tough sometimes - and I lost a bit when I first started trading it.
However the more I trade it the more success I am having - cos when you call this one right it tends to run and run. It is not for those with a nervous disposition though cos it moves so quick - and quite often retests support levels and takes out stops before resuming the move.
Today there was a shorting opp. as the stock was way overbought from yesterdays run up and extended above the 20MA on the hourly chart - and after a gap up at opening didn`t run away with the market. The Oil spike today helped the short move after lunch in the US
The 5 min chart then showed a long opp. as the price met resistance at the 200MA. After a 50% retracement there was another short opp.
I find you have to be very disciplined and very fast to capitalise - characteristics that I am still working on !
