RIM update

Then (Dec. 12th) and now charts;

rim dec 12 v2012rim dec 20 2012

It is always heartening to see that the EW approach does sometimes lead to superior results.  It certainly is better than listening to the noise from BNN.

The stock did go to about $15 (overnight) on wave 3 as anticipated  (Nov. 22 blog) but then things cooled off pretty fast and now we are down 20% or so. This is probable (repeat; probable) part of wave 4. Often waves 4 become triangles and need some time so there is little need to stick your neck out now. But the largest move is usually the very first leg of the triangle so you might miss out on some of the action. $10.05 is where wave 4 could go.

We would be inclined to wait this out. There is a possibility that we are actually already in wave 2 down in which case we could go even lower. At about $9.50 it would be a buy in all cases.