It looks like RIMM is bumping up against resistance at $71 per share. With strong competition from Apple, Google and Microsoft I am putting a see in at $71 and reducing my position to just 1/4 of my max target holding.
I like RIMM because of robust revenue growth, a largely solid financial position with reasonable debt levels, its solid
stock price performance, impressive record of earnings per share growth and compelling growth in net income.
However I am concerned about the overall market making a correction, RIMMs new competition from Google and Microsoft.
RIMM at this time looks like a place to cash in some gains. My first 1/4 of RIMM was bought on 12/03/08 for $35.09 returning a 99% gain and my second 1/4 of RIMM was bought on 2/18/09 at a cost of $44.09 returning 58% on my investment. This looks like a good time to take some profits in RIMM. I will still hold 1/4 of my max target position.