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A New BlackBerry Craze May Be Blooming

Today, the Z10 goes on sale in Canada. Next week, the phone will start selling in the Middle East.

Canada and the UK have traditionally been a stronghold for BlackBerry, capturing a lot of the banker/lawyer/corporate users. The Middle East (Saudi and the UAE) have obviously emerged in the last couple of years as very significant new markets for BlackBerry. Therefore, there's a good chance that, before the end of the month, we will continue to get a stream of good news trickling out of all these markets on how well the Z10 is doing.

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Canada has remained in love with the BlackBerry, even if the rest of the world has moved on. CIBC analyst Todd Coupland released a survey Monday that suggested over half of pre-registration orders for Z10s to some Canadian carriers came from current Android and iPhone users. That's stunning if accurate, as no BlackBerry bears (and even some BlackBerry bulls like me) ever would have guessed that.

So, Monday's reports may just be part of a move that could last the next couple of weeks before there's a pullback.

Of course, we will still have to wait for accurate sales data from all these key markets. That could be a few more weeks away. And, of course, we'll get a more definite sense from the company on how the initial February push is going when they report earnings in March.

But, with the high share count still held short, a trickle of good news from these key markets, and the possibility of BlackBerry announcing pre-orders by some of their top carrier customers, it seems to me that reward outweighs risk for the next two weeks -- especially after the big selloff last week.

At the time of publication, the author was long BBRY.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

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