by Sam Collins 10/10/08
Research In Motion (RIMM) -- This telecommunications equipment company, which designs, manufactures and markets wireless solutions for the mobile communications market, has only been in a bull market since mid-2006 when it sold in the mid-$20s.
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RIMM was strong during much of the recent decline but in June it topped just under $150 and fell to under $60 this week, creating a gap at $77 to $95.
But in the last two days, while the market smashed to new lows, RIMM has been under accumulation. This stock will be probably be high on the list of buyers when we finally hit the market sell-off bottom.
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FAST is now consolidating and recently flashed a buy signal from our internal indicator.
Options Expiration Adds Volatility
The opening looks to be higher but today is options expiration day, and anything could happen.
Chances are high stocks will sell off further, but be alert for a dead-cat bounce after such a dramatic breakdown.
Traders and longer-term investors should sell any new positions at the first opportunity and short ETFs on a temporary recovery in the market.
CAT, the blue-chip of its industry, is the first to attract attention when it's time to dress up a portfolio.
