Closed off my RIMM position for a loss @ $72.90 after seeing the stock failing to close above the 50DMA. Next key technical support will be @ $70.00 level and might consider reentering from there.
As mentioned on my twitter yesterday, the smart thing to do was to get out as the technicals were screaming at me to get out. But I was comfortable enough to take the risk and accept the potential losses if they failed to impress the market on which they did.
So I broke one of the key rules of trading on this one but it was for the fun of it which is:
“Trade what you see, not what you feel (I think its ok to think)”
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