Saturday, August 30, 2008

The 50 drops below the 100; price approaches 200MA

I might be beating this one into the ground, but I really want to short RIMM. On the daily, the 50day MA has fallen below the 100day; a bearish sign. The price has fallen below both the 100 and the 50 and is approaching the 200 day. I'd watch that 200 day level closely because once it breaks, things may be headed downward. Confirmation when the 200 day acts as a resistance and when the 50 and 100 move below it.

Good trading. Use stops. Take responsibility.

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