RIM update, soon to be known as BB (Brigitte Bardot?)

RIM Jan 31 2013

This is not intended to be a wave count! $13.25 is about where both legs are equal (not including the first down leg). Mathematically speaking the stock came from a of $6.10. With a high of $18.25 it must have travelled $12.15. Therefore, as this is the first major pullback after a 5-wave sequence on would expect a drop to about the previous 4th wave and about 50 to 62%. The 4th wave is at about $11 and if we deduct either $6 or $7 from $18.25 we get a range of roughly $11 to $12. On balance a buy at $12+ and for dare devils at around $13 where the trend line is, see below.

rim jan 31 2013 sThe a-b-c may already be complete!