RIM update

rim  dec 15

So again I am a little early but having been mostly negative on the stock since it traded at about $160, I am still inclined to be a buyer rather than a seller. With the overnight drop of another $1.50+ the stock is now close to the bottom trend line. Also the stock has a 5 wave pattern (arguable) and the RSI is going through the 30-line. MACD is already rising. Deutshe Bank came out with a target of $10. A mutual fund manager(Orion Capital Management) sold his entire position today. The stock is trading at 2 1/2 times earnings, it has $2/share cash, 75 mln. subscribers and by far the best security level on it’s own network. Obama loves it. There are two bullish analysts that are bucking the trend with a value of $26 and $22 respectively. Everybody else hates it, some because of a couple of very rowdy British expatriates employees that allegedly were rather inebriated  on their way back to Canada. Time will tell.