RIM in Us$

As you know, I do not have a great love for RIM perhaps, for the simple reason that I do not understand why anybody in their right mind would want to be in contact with their boss over a weekend or whatever. My most recent boss at WG could not keep his eyes of the thing making me wonder what wisdom was imparted to him through this particular channel . None as far as I could tell. Here is the chart:

RIM in us$ july 2010 

Looking at it the past few days it occurred to me that this may just be a buy. This really goes against the grain but that is what EW is all about. I hesitated but noticed that there were some upgrades etc. so here we go. Buy it with a stop of about $45. You will lose 10+% of your money if I am wrong, but then you could gain a bit more than 100% if it does the inconceivable and goes to $105

   Sometimes things are very hard to comprehend, and just as your gut gives you the right signal you ignore it. I remember clearly that Apple went down the drain into single digits and it seemed odd to me the a brand like that would just leave this earth ( of course Atari and the one before that , did just that). Anyway here is the chart.

AAPL 2010

The  “you are here” label is not entirely correct but one does get the point that higher values are certainly POSSIBLE, which is why I would insist on the stop, real or mental or go for options. Long term I do not think this stock will go to new highs, so do not outstay your welcome.

By the way, AAPL is a great 5 wave up, exceeding  the trend-line only marginally. Remember the ONE and ONLY rule that works, buy sell high. This is high!