RIM was never a favorite, briefly it looked like a spread trade against Apple might work well but that one almost immediately went sour despite a very nice climb in RIM stock.
Revisiting the stock it is pretty hard to be too optimistic. On patterns alone the overlapping behaviour for the past two years suggest a diagonal is in the making. A good example is provided by Marvell Technologies (see earlier blog). If it does do this the target could easily be as low as $25. But , on the positive side, the stock should shoot up to about $90 immediately thereafter.