19Dec10:57 amEST

The Darker the Berry the Sweeter the Squeeze

It may seen hard to believe, but back when BlackBerry was called Research in Motion (RIMM ticker) it was a major market leader from 2006 through early 2008. 

These days, however, BBRY seems to have fallen through the market's cracks, with barely a mention from the most hardcore of tech enthusiasts. 

This morning, though, BBRY is up nearly 3% on news the Canadian cell phone maker is opening autonomous driving research center today. So, self-driving research it is for BBRY. 

Earnings are tomorrow morning, which means I am not interested in taking a position in the name today. 

But BBRY remains not only a loathed stock, but also one which know evokes apathy from those who sought, first, momentum, then, deep value, and got burned each time. The stock is still fairly heavily-shorted and prone to a squeeze higher if bulls can figure out a way not to drop the ball, again. 

Overall, the name has been the epitome of "Dead Money" since late-2011, quite a long time indeed to go with no inspiration in the stock. If BBRY can hold the line tomorrow with earnings, the daily chart basing action, below, gives hope for at least a modest Christmas rally before we begin to think more ambitiously. 

Weekend Overview and Analysi... A Bear of a Russian Bull


This website is intended for educational purposes only. | © 2020 MarketChess.com | All Rights Reserved | Website design by Saco Design | Superpowered by Site Avenger

mobile site | full site