$RIMM : Rally has failed. Price below kumo

RIMM counter rally has fail. It never make it to break out of the kumo resistance.

With yesterday’s earnings, RIMM has gap down. And on the Ichimoku chart, we have a very strong confirmation of a bearish move. The price is below the kumo now confirming that the bear trend is back.

We can also see that the Tenkan sen and Kijun sen has crossed downwards.

With Apple iPhone 5 expected to launch in October, RIMM will find it hard to catch up in terms of units sold for its BlackBerry. Other challenges includes Apple consolidating its position in tablet sales and most likely with a new tablet in the coming months.

But, what really worries me is Q1 2012 report from RIMM. In the report, RIMM used ‘shipped’ .

I recall Palm faces the same problem a few years back when the webOS was just unveiled. They too used the term ‘shipped’. Does ‘shipped’ equal ‘sales’?

If it does not equate to ‘sales’, then inventories and write-offs are going to come back and haunt them.


Bearish. Vested with PUTS.


iShares Silver Trust (NYSE:SLV) : Took profit. Expect consolidation


Decide to close off my SLV position. It has rise up a lot in a fairly short timeframe and I think it is best to take some money off the table.

At this moment, there is nothing on the Ichimoku chart that is suggesting that the trend will change.

The leading kumo seems to be tapering off and suggest consolidation.


Tibco Software Inc (TIBX): Time to take profit


Tibco Software (TIBX) is among the ‘longest’ stock that I have held.

Currently, TIBX is trading at around $24.

On the Ichimoky Daily Chart, we can see that

1. The Chikou Span may pierce through the price level. While this has not happen yet, and there is a chance it will bounce off the support at around $24

2. For the past 3 trading days, TIBX has been trading below the Kijun sen (trendline). This suggest weakness.

3. On top of that, we can see that the leading kumo is flattening which suggest that the momentum is probably slowing down. This is further supported by the flat Tenkan sen and Kijun sen as well.

4. With a flattening price, we can see that the Tenkan sen and Kijun sen is very close together. Any sharp downturn will likely see a bearish cross confirmation.

It is with the above in mind, that I decided to take my profit off the table and close my long position on TIBX.