Should RIMM be sold here now that it hit a 52 week high , or will it continue to
go up ??
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No sell here.A healthy contest with Apple will propel both stocks upward the
rest of 2008.
I would agree with Peter. The stock just broke out to an all time high on good
volume. Not exactly a sell candidate. If this market continues to behave well
over the next several months and beyond, RIMM will be one of the leaders I'm
sure, along with AAPL and others.
Then again, I don't know your goals with the stock, whether it's just a trade or
a longer term investment, but it's something to consider.
I always sell on the way up. Otherwise you will follow it back down again.
Nobody knows whether "it will continue to go up". don't make the
common mistake investors make: they sell their winners too early and hang onto
their losers too long. Stocks hitting new highs tend to go higher, just as
stocks hitting new lows tend to go lower. If you're nervous do this: enter a
stop-loss 5% below the closing price. Stop watching the stock tick-by-tick (I
know that's difficult and it is definitely a practice of most here). Check the
price after the close each day, if it's gone up - raise your stop until it's 5%
below that close. If it's gone down, do nothing. Stop worrying about your
winners - worry about those losers instead. It absolutely amazes me to read that
people sell their winners to sink more money into a loser (I'm not saying you're
doing that - but DON'T DO THAT)
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