RIMM “Fade” Pays!

Lock in 20% Gainer

By Bryan Bottarelli
Tuesday, February 12, 2008 3:34 PM EST
Tue, 12 Feb 2008 20:34:00 GMT

PLAY: Sniper sell your RIMM March 90 Puts (RFY OR), good for the day.

Dear Bottarelli Research Member,

As expected, the Dow’s 200-point gain has been cut in half. And as a result, shares of Research in Motion (RIMM – NASDAQ) have drifted lower throughout today’s trading session. As I write, the RIMM March 90 Puts (RFY OR) that we entered this morning for $4.95 have just crossed the tape at $6.10, effectively triggering our pre-determined “sniper sell” target. Chase-wise, RIMM could move even lower, but in a market like this, we need to continue our strategy of taking the quick profits off the table. Therefore, lock in your RIMM puts gains now!

RIMM

PLAY: Sniper sell your RIMM March 90 Puts (RFY OR), good for the day.

In other news, your SII March 60 calls (SIK CL) are moving lower today based on a meaningless downgrade from UBS. The firm cut a handful of large-cap U.S. oilfield services companies, including SII, to “equal weight” from “overweight.” That’s the sole reason for today’s weakness. And since the down-move is coming on relatively low volume, let’s maintain this position going into tomorrow. Unless we see a snap-back, I’ll probably cut this one short and sell. But until then, congrats on your quick RIMM gains, and as always…

Lock and load!

Sincerely,

Bryan Bottarelli

Bryan Bottarelli
Editor, Bottarelli Research

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