Saturday, December 23, 2006

Reach 50000 milestone again before Christmas

It was Dec 22,06 (Friday) last trading day before Christmas break.

After shorting RIMM at 140 after hour on Dec 21 06 (RIMM ER day). I took very big risk that RIMM's ER actually beats the street.

Just like GOOG in its previous quarter (Q2,06), sales up however market drops.

Standard & Poor downgraded RIMM like
"The downgrade is based on valuation. The company's November-quarter EPS of 93 cents, vs. 71 cents one year earlier, before special items, is 3 cents above our estimate. Sales rose 49% with 875,000 BlackBerry subscribers added in the quarter. RIM sees 950,000-970,000 in the February quarter, and sales growth of 60%-67% from a year ago. November-quarter gross margin narrowed to 53%, 100 basis points below the previous quarter, we believe on lower prices for the new Pearl. We are raising our fiscal 2007 (ending February) and fiscal 2008 EPS estimates to $3.30 and $4.55, from $3.25 and $4.35. While upping our target price $10 to $120, a premium-to-peers 26.4 times fiscal 2008 estimate, we think more upside may be challenging against added competition."

http://yahoo.businessweek.com/investor/content/dec2006/pi20061222_605705.htm

I was little scared when I place second short order when I came back from Jerry's JK's performance. I was then happen to see RIMM dropped from the beginning of Friday trading from 142-135-129.

After Friday's closing, my accounts backed to $50000.00!!!!! What a Chirstmas gift to me.

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