Research In Motion playing catch up
Keep your powder dry and remember the best time to buy a stock is when it has established an uptrend. Anticipating a bottom could see you finding new lows with your money.
Keep your powder dry and remember the best time to buy a stock is when it has established an uptrend. Anticipating a bottom could see you finding new lows with your money.
I think that it is pretty clear that you have to find entry and exit points if you are going to get on this ride.
Clearly the market is reacting as it should to BCE’s performance by avoiding the temptation to buy the runt of the litter.
At this point you are best to trade the range until WIN breaks through the resistance at $3.10 and returns to an uptrend.
At that point the question becomes will a suitor surface that sees MTB as the belle of the ball that they want to take to the altar?
At this point it appears that ENA has gotten ahead of itself and needs to consolidate its recent advance before it can break above resistance at $0.65.
If you got in on the run from the late 2008 lows then think about taking some profits. They aren’t always available. If you are thinking of entering at this point you might want to see if it retests the $9.50 low of March 12.