June 30, 2007
Stock Du Jour (RIMM) & Random Observations
Kind of positive morning, then lunchtime chop followed by a burst of selling at precisely 2 PM and finally another burst of selling at precisely 3 PM. If you don’t know how machine-driven the market is these days, you’re living on the moon.
Notable New Lows: Office Depot (ODP) and Circuit City (CC); Homebuilders Hovnanian (HOV), Lennar (LEN), Standard Pacific (SPF), Beazer (BZH); and a ton of regional banks.
Notable New Highs: Lots of China-related stuff (FMCN, BIDU, SOHU, SINA, EDU, HNP, YZC) and the Stock Du Jour, RIMM.
RIMM did over five times average volume but you can see from the 15-minute chart below that the first $30 of the move towards $200 happened after-hours on Thursday.
Cat: | Time: 9:04 am (utc+8)
June 30th, 2007 at 1:00 pm
RIMM was a monster on Thursday’s after market session. I thought it was very intersting that the streaming news first announced the 3 for 1 split and then the earnings data, which was also stellar. Seemed like the earning information was just an after thought. The short interest of 10,848,160 is a driving factor. Aug 20th will be epic to trade in RIMM.
July 1st, 2007 at 11:26 am
Pays to listen to the after hour tape!
July 1st, 2007 at 2:20 pm
BL: Yes, I think there are many folks who play the pre-open and after-hours sessions exclusively (not a bad idea).