Tuesday trade - RIMM

Today was a tricky day. It was far more bullish than I was expecting. It's like yesterday never happened. My new BOR technique would have worked nicely today but I wasn't expecting such a strong move. Then after the big initial move, I wasn't really expecting much continuation so that left shorting (or a better option probably--not trading). I almost didn't post this trade but I saw that Tyler at "Am I Bald" made the same trade. It really wasn't a bad setup, narrow range bars with volume contraction with the 5 period MA directly above. On the daily chart, RIMM is breaking out of a descending triangle. I also liked the big volume and thought that it could be immune to the overall market. RIMM hardly budged when the market made it's big move in the morning. In the end, I think today was more about the market reacting to all the GM bailout talk than supply and demand.

Setup:60