Tuesday not as good as Monday

The day ended with a run up which I sort of expected a little, but probably not quite as much as actually happened.  Of course RIMM ended up pushing pretty high (daily high actually).  I’m looking at my position and still believe that it’s good, but chances are that I’ll be wrong and sell for a loss.

Checking the ending BxA (Bid x Ask) on the RIMM puts I’m holding the final for the day was $14.35 x $14.60 which is a painful amount lower than I entered ($16.15) showing a decent loss for now.  Maybe I didn’t think out my entrance into RIMM or maybe I was expecting weakness instead of strength.  Whatever the end result for today, I’m happy to say that technically I haven’t lost any money (don’t lose unless I sell, right?).

The chart of RIMM isn’t looking great for me.  I’ve included the chart for a majority of the day.  You can see that RIMM didn’t show the weakness I was hoping for.  It’s very possible I sell at a loss tomorrow and just live to fight another day.