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Two Ways To Play: Research In Slower Motion?


Strengthen your portfolio in good times and bad.


BlackBerry Expects Rotten Quarter

Research In Motion (RIMM) is weathering a storm right now. Shares are down this morning after the company said it will probably miss its third-quarter forecast.

According to Bloomberg, the Blackberry maker said profits would likely rise to no more than $0.83 per share, with sales coming in at $2.78 billion. This is below Research In Motion's previous estimate of $0.97 per share and $3.1 billion in sales. The disparity was partially blamed by CEO Jim Balsillie on product delays and a decline in foreign currencies against the US dollar.

Shares are off 7% in pre-market trading.

From the Bull Pen: Technology bulls can look to Verizon (VZ). Notice the relative strength in the daily chart. Sell stops can be set below $30, which coincides with the 20 and 50 DMA.

From the Bear Cave: We've talked about the bearish pattern in Research In Motion -- a triple-bottom break below $40 -- but it might not be wise to press it here. Instead, bears can wait until a rally back to that level to initiate a downside position.

Quick Check Around the World

Asian trading closed with the Hang Seng 1.36%, Nikkei 1.79%, Sensex 0.09%, Taiwan -1.14% and Shanghai 4.01%.

Glancing towards Europe, we see the CAC -1.40%, DAX -1.41%, FTSE -0.67%

As of 8:20 a.m. EST, S&P futures are trading -13 to 835, and Nasdaq futures are +26 to 1107.

A Look At Commodities

Crude oil is trading unchanged at 46.95. Gold is -7.50 to 773.80. Silver is -0.135 to 9.455 and copper is -3.850 to 154.00.

The dollar index is +0.413 to 87.115.

On the Radar


07:00 MBA Mortgage Applications
07:30 Challenger job cuts Y0Y
08:15 ADP Employment Change
08:30 Nonfarm Productivity
08:30 Unit Labor Cost
08:30 PCE Core YoY
10:00 ISM Non-Manf. Composite
02:00 Fed Beige Book

Click here for the full trading radar.

It's hump day. Good luck!

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No positions in stocks mentioned.

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