RIMM Breakout and Pair Trade

Thus far the "pair trade" I outlined yesterday and entered on Friday is a success, as RIMM broke out in a big way today and AMZN (short) hangs out under the "failed breakout" resistance level.I took a partial profit in RIMM today and moved my stop up to entry level to lock in gains.

Pair Trade: RIMM and AMZN

On Friday I went short AMZN and long RIMM. This is a "pair trade" trade using the folling strategy:1- enter one stock long and one stock short from similar fields.2- the short stock should exhibit a very bearish pattern, while the long stock a very bullish pattern.The idea behind this trade is that if the... Continue Reading →

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