Day Trades - RIMM BIIB OTEX LVS

I discussed RIMM back on October 27th. And HCPG also had RIMM on their focus list. So hope everyone was still watching this one today.

RIMM reached the 1.27% fib. extension of the initial impulse move - point A to point B on the daily. If RIMM can hold the upper blue line as support, I will get back in. Next target is round $ number $60.00, followed by 62% FE (Fib. extension).

As we can see from the 15 minute chart below, RIMM was strong right out of the gate and consolidated the initial thrust in a constructive manner. Took a partial at the 62% FE and exit balance on weakness.

BIIB was flagging as discussed this weekend. Entered long on an inside bar on the 15 min. Next target is the 27% FE on the daily.

OTEX and CRM were the best NR7 trades from last night's scan. Missed CRM, but took a small position in OTEX. This stock is not very liquid, so that's why I size it accordingly.

LVS was a continuation short as discussed in the weekend post.

I placed my Fibs from pt A to B (last impulse lower), thinking it would want to fill the gap. But it didn't even try as sellers were in control. Gap is now resistance.