RIMM reported after hours today. Came in profitable, but below estimates. Here is where price sits at the moment:
Since May of 2007 price has used the $56 mark as a respectable pivot.Notice how the last time price tagged this mark price didn't have quite the response it had in the past.
On tomorrow's open, RIMM will be sold at a discount (compared to the day before) and it will be an opportunity to observe what the buying interest is at this "discounted" price. If the discounted sale price doesn't attract more buyers than sellers (of those who just want to get rid of this POS once it goes below an equilibrium pivot) then me thinks RIMM might end up having a fire sale.
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