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Is it mere short-covering or something more? RIM (RIMM +7.7%) is rallying strongly on a quiet...

Is it mere short-covering or something more? RIM (RIMM +7.7%) is rallying strongly on a quiet day after getting crushed in the wake of its FQ3 report. 113.7M shares were shorted as of Nov. 30.
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Comments (17)
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    Short covering!
    26 Dec 2012, 10:50 AM Reply Like
  • Ashraf Eassa
    , contributor
    Comments (9092) | Send Message
     
    Called it :-)
    26 Dec 2012, 10:52 AM Reply Like
  • Macro Investor
    , contributor
    Comments (9050) | Send Message
     
    Email me early next time I would have gotten a bull spread.
    26 Dec 2012, 10:56 AM Reply Like
  • Nancy Lucas
    , contributor
    Comments (41) | Send Message
     
    Ashraf, you did indeed! Bravo!
    26 Dec 2012, 02:05 PM Reply Like
  • mythbuster123
    , contributor
    Comments (35) | Send Message
     
    It's a little of everything. Short covering, new buyers are coming in,BB 10 launch date is getting closer, institutions are now believing and buying. It's all good and we are on our way to 16 to 18 minimum launch date
    26 Dec 2012, 10:57 AM Reply Like
  • chopchop0
    , contributor
    Comments (3541) | Send Message
     
    I don't see what the fuss is about... it was $14 within the last month.
    26 Dec 2012, 10:59 AM Reply Like
  • Justforfun7
    , contributor
    Comments (136) | Send Message
     
    the insecurity about service fees was way over done and RIM was up almost 150% off the bottom so the market was due for a pullback. Any excuse really would have done. The fall was exacerbated by longs taking profits and new shorts jumping in.

     

    The good news continues to flow. Nokia settlement for one time payment of 65 million which was already recorded in the last quarter. No huge settlement like some of the media was playing up.

     

    Port over event for getting even more apps on the BB10 platform prior to launch.

     

    Onward and upward.
    26 Dec 2012, 11:28 AM Reply Like
  • bedrock65
    , contributor
    Comments (637) | Send Message
     
    Roller coaster. Get ready for all the leaks leading up to the launch. RIM is saving the best for January 30, many will be pleasantly surprised.
    26 Dec 2012, 11:39 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (8692) | Send Message
     
    Prem Watsa is buying heavily.
    26 Dec 2012, 11:50 AM Reply Like
  • noregretstrader
    , contributor
    Comments (6) | Send Message
     
    Interesting news yesterday on the BB10 browser speed beating the iPhone 5--saw this on StockTwits:
    http://bit.ly/12P4NVn
    26 Dec 2012, 11:50 AM Reply Like
  • @barrywood
    , contributor
    Comments (32) | Send Message
     
    Whatever it is, it's good!
    26 Dec 2012, 11:50 AM Reply Like
  • jim737
    , contributor
    Comments (363) | Send Message
     
    The investors in the USA just found out that RIM has a new phone coming called BB10. Lol.

     

    Seriously. Orders for the new BB10 is much greater than what was expected. This phone is going to sell like hot cakes, and may sell out in the first day over seas.
    26 Dec 2012, 12:04 PM Reply Like
  • Michael Bryant
    , contributor
    Comments (5619) | Send Message
     
    I doubt it's short covering. These days, one large investor can move a stock big. Remember last year when (SHZ) rose 300% in 5 days.
    26 Dec 2012, 12:09 PM Reply Like
  • Nancy Lucas
    , contributor
    Comments (41) | Send Message
     
    1:33...tape crossed at $11.83, volume at just over 45 million, this is hand over fist buying. I saw large blocks of + - 100,000 crossing the tape in mid-morning. Normal sell-off activity after an earnings report disappointment is five days duration, on average...to have a strong rally on this, the third day of trade after the report, and on a slow week, is unusual in my ten years of trading experience. If I'm not mistaken, tomorrow is the final day to purchase or sell for settlement by 31-12-12 for US markets. It is possible that today's action will continue tomorrow. To me, it looks as though aggressive investors do not want to be without RIMM, and they may be an entirely different trading population than short sellers deciding to cover. We'll know tomorrrow!
    26 Dec 2012, 01:40 PM Reply Like
  • GE Smith
    , contributor
    Comments (84) | Send Message
     
    24th was last day in Cda, today is last day in US
    26 Dec 2012, 03:14 PM Reply Like
  • cblack111
    , contributor
    Comments (12) | Send Message
     
    I don't know & don't care. i am too busy buying call options on RIMM.
    Feb. 12 call
    March 12 & 14 call
    June 10 & 14 call
    26 Dec 2012, 02:01 PM Reply Like
  • CashMan75
    , contributor
    Comments (75) | Send Message
     
    rimm no were to go but down
    28 Dec 2012, 04:42 AM Reply Like
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