Wednesday, April 2, 2008

Avoided VRTX, in for RIMM's earnings...

I decided to avoid VRTX; there was very little movement on it for the first hour.

RIMM has their earnings announcement at 5pm today but it was hovering in the $119 area. For some reason, I put a limit at 30 @ $118.85, which is unfortunate because it's closer to $118.00 now, but I thought I could capitalize if it dipped and took off again.

I'm expecting it to do well from an earnings perspective and bounce an extra 4-5 points, past $120. If it doesn't, I'll probably exit pretty quickly. Gotta watch out for free-riding, though I did establish the margin account so that wouldn't bother me so much.

We'll see what happens with their earnings and in after hours.

No comments: