Research In Motion.. <and when to bow out> There has been much talk about RIMM's earnings and POUNDING THE TABLE with this 'sure thing loser'. For the last 3 sessions, RIMM has offered some good long and short opportunities.. AS SCALPS and on ANTICIPATION. ANYTHING MORE THAN ANTICIPATION IS a risk and proved once again that died hard shorters are left with mud on their face. DO NOT TAKE HOME SHORT PLAYS overnight. I have seen AMZN, RIMM shorters now down up to 35% while we either cover intraday plays or take small put positions. I was short MERQ today and covered, I also took a put position at the end which was overkill. However we recommended no one hold through earnings. The put position might be a loss unless MERQ gives back in a 'gap 'n crap' situation, but it proves once again that "long term daytrading" - milking the trade for as long as possible intraday is better than just scalping and way better than taking home a short position.
Research In Motion (RIMM: news, msgs, alerts) said fourth-quarter earnings before a one-time charge rose to $8.3 million, or 10 cents a share, from $3.2 million, or 4 cents a share, for the same period a year earlier.
Shares rose 21 percent to $26.48 on Island following the report.
The Toronto-based handheld wireless device and pager maker was expected to earn 7 cents a share, according to First Call/Thomson Financial. See full story.
The company said it would take a one-time charge of $14.75 million to write-down the value of several "long-term investments."
After the charge, Research In Motion had a loss of $6.5 million, or 8 cents a share.
Research In Motion fell $2.82, or 11 percent, to $21.93 prior to the close of regular trading.
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