Friday, April 18, 2008

Friday trade - RIMM


I had a good trade with RIMM today. It could have been great, but like I said, I'm working on my exits. The trade started with a good entry at the break of the cup and handle. At the time I exited, the Nasdaq was slowing around the 2400 point. RIMM retraced pretty good around 11:15. You can see the inverted umbrella at my exit point. If I was only looking at 15 minute charts, I probably would have stayed with this trade (ignorance is bliss, right :)). Another factor was that we were nearing the lunch hour which is normally choppy and directionless. Another 25 minutes in this trade would have made a big difference.

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