# RIM Strangle



## oob (Apr 4, 2011)

I'm debating entering this trade. Obviously I would have to do this in the next 2 days.

You can buy Sept 17 Strike 60 calls for 3.52
and 50 strike puts for 3.45.

Breaks even if stock is 43.03 or below or 66.97 and above.
If the playbook is a big success, brings the lustre back to RIM, and is a viable platform for future blackberries. I can easily see the company being worth 12x earnings or above. That's $76.2

If it's a flop, the company is finished.
I can't see any in between scenarios.

Thoughts? criticisms welcome obviously.


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## atrp2biz (Sep 22, 2010)

Why in the next two days? You're looking at September expiration. If you're to do this, I suggest doing it in the US--much better liquidity and better bid-ask spreads.

In general, I'm not a fan of negative theta positions.


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## oob (Apr 4, 2011)

Before playbook launch - maybe I don't need as much time.
Yeah I hear you on the negative theta; I'm venturing out of my usual comfort zone here.


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## webber22 (Mar 6, 2011)

There's discussion in some other thread about RIM. Today's news isn't too hot

http://business.financialpost.com/2011/04/14/rims-blackberry-playbook-underwhelms-in-early-reviews/


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## Axcell (Mar 25, 2011)

Look, I'd like to see some people's views about this stock. A P/E touching 8 for a company like RIM which is expanding globally is insane. 
Forget the Playbook....... even if it is a fail, this stock is still oversold. The value is already in the stock for a fail of a Playbook, how much lower can this sucker go?


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## HaroldCrump (Jun 10, 2009)

Axcell said:


> how much lower can this sucker go?


Sounds eerily like what folks were saying about Nortel 5 years ago


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## ddkay (Nov 20, 2010)

you'd probably make more money shorting at this point


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## fatcat (Nov 11, 2009)

playbook will be a bust ...
it's just not a compelling buy compared to the ipad ...

it will limp along and depend on what rim does to keep it alive
it might get a foothold with business people who want a larger screen than a smartphone and who are dedicated to their blackberry but otherwise it's just not compelling ...

nobody has anything that can compete with ipad at the moment


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## Causalien (Apr 4, 2009)

This is your risk/reward curve.
http://min.us/mvprHZT#1

Cheers


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## Lephturn (Aug 31, 2009)

@Causalien Nice chart - what's it done in? Is that TOS?

@oob You are long a lot of vega here = but it's not looking too bad as vol is reasonable looking on those options at 37 on the calls and 39 on the puts. It's at the low end of the IV over the last year or so.

The big question is - will the playbook move the stock enough fast enough to overcome that theta? If it just hovers here in the mid 50's the combined theta and the boatload of vega you are long will cost you. What's your time stop on this one?


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## Causalien (Apr 4, 2009)

Lephturn said:


> @Causalien Nice chart - what's it done in? Is that TOS?
> 
> @oob You are long a lot of vega here = but it's not looking too bad as vol is reasonable looking on those options at 37 on the calls and 39 on the puts. It's at the low end of the IV over the last year or so.
> 
> The big question is - will the playbook move the stock enough fast enough to overcome that theta? If it just hovers here in the mid 50's the combined theta and the boatload of vega you are long will cost you. What's your time stop on this one?


Yep. I wish someone introduced me to this tool when I started dabbling in options. Respect your risk and respect TOS. Nothing but pure awesomness.


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## Lephturn (Aug 31, 2009)

I like OptionsXpress - but tech is not nearly as nice as Think or Swim.

I have been waiting for TD to get the ToS platform rolled out in Canada - if they ever do it I may well move some stuff from RBCDI to them for the ToS platform.


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## m3s (Apr 3, 2010)

Lephturn said:


> I have been waiting for TD to get the ToS platform rolled out in Canada - if they ever do it I may well move some stuff from RBCDI to them for the ToS platform.


+1


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## slacker (Mar 8, 2010)

Do you use Trefis or other methods to actually value a stock? or is it mostly base on "hunch" ?

https://www.trefis.com/company?hm=RIMM.trefis&homeFeatured=RIMM&driver=0711&from=home:driverTitle#


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## brad (May 22, 2009)

oob said:


> If it's a flop, the company is finished.
> I can't see any in between scenarios.


I doubt the failure of the Playbook (which seems certain) will doom RIM as a company. You can be a niche player in a large market and still be successful; I agree that the value of their stock will drop but I'd be surprised if they go out of business anytime soon.

Keep in mind that smartphones themselves are a niche market, accounting for a fraction of 1% of the cellphone market worldwide. The various players within that niche can survive as long as they can maintain a viable customer base. Virtually everyone I work with and most of my acquaintances use a Blackberry for work; many of them use an iPhone for personal use. That dichotomy is likely to continue for a while, in part because corporate IT security departments shudder at the volume of apps available for the iPhone, any of which might offer opportunities for disaster.

So my hunch is that RIM will definitlely shrink but will stick around for quite a few more years. Think back to when Apple accounted for 1% of the PC market and didn't yet have the iPhone or iPod -- they were still a highly profitable and healthy company. One percent of the PC market represents a huge volume of business; even back when people were predicting Apple's demise (before Steve Jobs was hired back) the company had about 30 million customers.


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## andrewf (Mar 1, 2010)

As long as RIM has BBM, they have a shot. 

Even if this iteration of the PlayBook is underwhelming, I imagine they'll be able to build on this in future iterations. Apple is a canny operator, but RIM ought to be able to get a good chunk of the rest of the market.


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## kcowan (Jul 1, 2010)

andrewf said:


> ... RIM ought to be able to get a good chunk of the rest of the market.


I think the tablet market will break down as follows:
1. iPad
2. Android-powered pads
3. Windows-powered pads
4. RIM-powered pads
5. Other pads
in that order.

I don't see the Playbook helping RIM share but it should stem the bleeding in their core market. Would I become a Blackberry customer because of the Playbook? No.
Would I get a Playbook instead of an iPad if I already had a Blackberry? Maybe.


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## webber22 (Mar 6, 2011)

RIM issues profit warning .... trading has been halted

I looked into RIM's previous profit warnings ...... they were a false alarm in the ones I looked into. Stock price manipulation ??


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## ddkay (Nov 20, 2010)

Nice call on channel stuffing by Causalien


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## Causalien (Apr 4, 2009)

Pessimism and Cynicism rules again. Being a trader really gives me a sad outlook on human nature. I wish the situation is reversed. 

In any case, I did not enter the short RIM trade for two reasons: 1 there are other better trades. 2 I live in Canada and a collapse of RIM has the same consequence of collapse of Nortel.


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## Axcell (Mar 25, 2011)

Anybody still holding shares of RIM? I sold half of my shares this morning........ I really wish I dumped the rest.. but there is no way I'm selling tomorrow in red. No way. 

What are people doing?


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## Eder (Feb 16, 2011)

I've never owned RIM but it is on my watch list now. Sell offs usually overshoot the mark...I'll be ready I think.

Down to ~$50 in after hours...hope another $5 at the open.

$45 by 9am would be good.


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## Axcell (Mar 25, 2011)

Eder said:


> I've never owned RIM but it is on my watch list now. Sell offs usually overshoot the mark...I'll be ready I think.
> 
> Down to ~$50 in after hours...hope another $5 at the open.
> 
> $45 by 9am would be good.


If you're referring to RIM.TO, $45 is unlikely....... I predict $48 Friday morning. Anything lower and the buyers will obviously swarm in, myself included. Let the weak hands get out of this one. 

Looking at the chart, there is strong support at ~$45-$46.


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## Homerhomer (Oct 18, 2010)

Axcell said:


> If you're referring to RIM.TO, $45 is unlikely....... I predict $48 Friday morning. Anything lower and the buyers will obviously swarm in, myself included. Let the weak hands get out of this one.
> 
> .


Those weak hands may turn out to be smart hands ;-)


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## humble_pie (Jun 7, 2009)

perhaps we could ask mode for an insight.

what are the armed forces officially issuing to their personnel as mobile devices.

my ignorant guess is that they are still issuing blackberries while individual personnel are buying iphones & other devices in droves.

last Q: are personnel allowed to use n'importe quel device on the job ?


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## Axcell (Mar 25, 2011)

Homerhomer said:


> Those weak hands may turn out to be smart hands ;-)


Only time will tell, but if you listened to the conference call tonight (which I should add wasn't all that uplifting), you would recognize that there is a very good reason why smart-phone sales declined this quarter... RIM just didn't express it clearly: Who would buy the Blackberry Bold 9780 or the Blackberry Torch (which are the highest end smart-phone devices offered by RIM) when they know in 2-3 months there is going to be a HUGE upgrade in devices (1.2 ghz processors + new operating system with a much faster browser + touch screen that is capable of playing Android applications/games.) The answer is: NOBODY. They will wait! That's why they had to lower guidance. I expect that once the new devices launch, that quarter will be awesome. I just don't know when those devices are launching (they didn't really talk about this during the call), but RIM needs to get them out ASAP.


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## MikeT (Feb 16, 2010)

The above analysis is not based on facts. It is wishful thinking. The torch and the iPhone 4 were released at basically the same time. And your argument is that their next device (which will come out around the time of the iPhone 5) will be the device that somehow fixes everything??

The reason they are guiding down is because the are actually losing. Google and Apple are beating them. Simple.

The only saving grace would be a takeover bid (which I have already posted about in another thread). And that takeover bid is wishful thinking on my part. However as the stock price declines the company might just be attractive enough to someone.

They lack the capacity to compete with the big boys, and it doesn't help that all their employees are paid in rising Canadian dollars. I forsee layoffs within a year.


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## Causalien (Apr 4, 2009)

People in denial need to read up on how Apple beat up Creative in the personal mobile mp3 player.

Did you guys know that Creative actually came to market with the Zen first and was the leader? It failed to innovate and faded. This is the nature of tech firms. At least, RIM isn't claiming that they are 2nd in smart phone sales like Creative were claiming when clearly the crappy Microsoft Zune was taking 2nd place.

The reason why Apple is winning is because Steve Job is the founder and is a tech based CEO while RIM is held back by, not one, but TWO co-CEO with little to no hard Tech knowledge. 

Do you know what happens when two CEO have equal power? NOTHING! They prevent each other from getting ahead because of their big ego.


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## bmckay (Mar 10, 2011)

RIM down 12% in after-hours trading


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## rookie (Mar 19, 2010)

MikeT said:


> The above analysis is not based on facts. It is wishful thinking. The torch and the iPhone 4 were released at basically the same time. And your argument is that their next device (which will come out around the time of the iPhone 5) will be the device that somehow fixes everything??
> 
> The reason they are guiding down is because the are actually losing. Google and Apple are beating them. Simple.
> 
> ...


as long as the stock is above 25, it would only be a "merger" and i do not foresee consolidation in the market yet. next couple of years would be the ones where the competitors fight it out. consolidation would come after that. unless someone does an apple and change the parameters of the game.

for takeover, my guesstimate is under 20.


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## kcowan (Jul 1, 2010)

Anybody buying at $47?


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## Homerhomer (Oct 18, 2010)

kcowan said:


> Anybody buying at $47?


not me ;-)

Given a bit of time this could show more weakness in upcoming weeks, easily below $45 and perhaps closer to $42 range.

And I am a proud owner of csco and my portfolio right now doesn't have any room for another weak tech stock, although csco being more of a showel company imo has a better chance of recovering.


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## Axcell (Mar 25, 2011)

kcowan said:


> Anybody buying at $47?


46.40 @ RIM.TO. I got in... 50 shares.
I'd say if you like the stock, buy HALF of what you would normally buy. If it falls another 5%, average down and buy again.

For those hopefuls that think RIM.TO will go below $40, you're delusional.


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## MikeT (Feb 16, 2010)

rookie said:


> as long as the stock is above 25, it would only be a "merger" and i do not foresee consolidation in the market yet. next couple of years would be the ones where the competitors fight it out. consolidation would come after that. unless someone does an apple and change the parameters of the game.


You might be right. But all three of MS AAPL and GOOG have more than enough cash on hand to buy RIMM outright at today's valuation.

Consolidation in the traditional sense is not what would be happening if this took place. It would be an attempt to compete using synergistic energies. Now knowing Balmer's personality, I pretty much know he won't do it, which is why I don't own either. 

I could see being short RIMM here, but MS has enough other business that they won't be as affected for several years. However, long term if they don't get competitive in this market they will suffer.


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## MikeT (Feb 16, 2010)

Causalien said:


> The reason why Apple is winning is because Steve Job is the founder and is a tech based CEO while RIM is held back by, not one, but TWO co-CEO with little to no hard Tech knowledge.


Lazaridis is a true engineer with hard tech knowledge. Founded the company while a student. He's a good CEO with great vision. They are just lacking capacity.


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## MikeT (Feb 16, 2010)

Axcell said:


> 46.40 @ RIM.TO. I got in... 50 shares.
> I'd say if you like the stock, buy HALF of what you would normally buy. If it falls another 5%, average down and buy again.
> 
> For those hopefuls that think RIM.TO will go below $40, you're delusional.


Trying to catch a falling knife is never wise. 

Short term trading on this trying to catch a bounce or something might make you a couple bucks. Try not to commit the children's college fund on a long term bet or your kids will end up in the soup line.


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## Homerhomer (Oct 18, 2010)

Axcell said:


> For those hopefuls that think RIM.TO will go below $40, you're delusional.


I am sorry but you speak from inexperience ;-)

In the next 3-6 month this stock can easilty drop another 20-30%, and it can go up by the same amount, not a dilusion, it's a possibility.


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## m3s (Apr 3, 2010)

Smells a lot like Nortel


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## andrewf (Mar 1, 2010)

mode3sour said:


> Smells a lot like Nortel


RIM isn't going to zero. Their balance sheet isn't anything like Nortel.


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## m3s (Apr 3, 2010)

> In early 2012, RIM has indicated it will launch so called "super-phones" that run on its QNX operating system, which also powers its recently released PlayBook tablet.
> 
> Read more: http://online.wsj.com/article/SB10001424052748703655404576292983239364862.html#ixzz1Kvo2tQlD


That's all they've got? The horrid OS that's already on Playbook coming to their "super-phone" next year, when iPhone and Android will be even further developed

Sell now or be sorry imo!


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## Causalien (Apr 4, 2009)

MikeT said:


> Lazaridis is a true engineer with hard tech knowledge. Founded the company while a student. He's a good CEO with great vision. They are just lacking capacity.


I was wrongg I apologize, especially about Lazaridis. The opinion must have formed when I analyzed their co CEO situation and watched their video interviews to analyze character.


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## davext (Apr 11, 2010)

Sold 75% of my RIM holdings this morning. I really should have sold yesterday when I would have almost broken even but my limit sell price was slightly too high. CRAP


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## Lephturn (Aug 31, 2009)

The strangle would have worked out beautifully. Time to set an alert for a week before their next earnings and do it again next time.


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## humble_pie (Jun 7, 2009)

i'd assumed the OP's strangle purchase was in US options because the volume markets are in RIMM, not in RIM options on montreal.

and if those were US options, the position has lost money in USD pure & simple, without taking exchange rates into account ...


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## kcowan (Jul 1, 2010)

MikeT said:


> Lazaridis is a true engineer with hard tech knowledge. Founded the company while a student. He's a good CEO with great vision. They are just lacking capacity.





Causalien said:


> I was wrong I apologize, especially about Lazaridis. The opinion must have formed when I analyzed their co CEO situation and watched their video interviews to analyze character.





[Url=http://www.fundinguniverse.com/company-histories/Research-in-Motion-Ltd-Company-History.html]RIM History[/Url] said:


> In 1984, RIM was founded by Mike Lazaridis, now president and co-CEO along with Douglas Fregin, Vice President of Operations. Lazardis, the son of Greeks who immigrated to Canada from Turkey in 1967, was 23 at the time. He had recently dropped out of the University of Waterloo, where he was studying electrical engineering.
> 
> Backed by loans from friends and family, Lazardis and two friends started RIM. The company's first contract came from General Motors of Canada Ltd. for industrial automation. For several years the company survived by moving from contract to contract. By the late 1980s RIM had about $1 million in sales and about a dozen employees.
> 
> Jim Balsillie joined in 1992. Douglas a.k.a. “The Other RIM Guy” has a net worth is estimated at $1.4 Billion (by Forbes).


The early products were X25-based running on the proprietary Mobitex network of Bell.

The Blackberry was introduced in 1999.

Fregin was also a techie and Balsillie was brought in to creat a business vision for the company.


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## MikeT (Feb 16, 2010)

Ya. I think it's pretty clear that they don't have a leadership problem. Other than maybe their leaders should be more actively looking for takeover bids.

I don't know how else to say it other than capacity. They are just overmatched. Google and Apple have real seasoned software developers who are used to creating fantastic user experiences. And they have tons of them. RIM doesn't (at least not to the extent the others do). And unfortunately hiring that is easier said than done.


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## oob (Apr 4, 2011)

I didn't actually go through with the trade.
As mentioned earlier, yes I meant on NYSE. I was referring to the company and not the ticker.

As at yesterday close you'd be able to sell the put at 6.05 and the call at 1.14, so up a measly 3% lol.


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## dogcom (May 23, 2009)

I bought RIM yesterday for $45.45 figuring everyone is getting close to have jumped ship. Apple and Google will lead this year and RIM will be having problems finding ways of getting back into the game.


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## Homerhomer (Oct 18, 2010)

Homerhomer said:


> not me ;-)
> 
> Given a bit of time this could show more weakness in upcoming weeks, easily below $45 and perhaps closer to $42 range.
> 
> And I am a proud owner of csco and my portfolio right now doesn't have any room for another weak tech stock, although csco being more of a showel company imo has a better chance of recovering.



I didn't expect this thing to be falling this fast, we may be seeing below $40 faster than I anticipated.


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## Toronto.gal (Jan 8, 2010)

Neither did I. 

Stock will recover long term [have little doubt of that], but I have to give credit to those that predicted this steep decline.


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## Causalien (Apr 4, 2009)

Re examine why you bought it, list them, wait a few second and read the next line further down.
















If the words are emotion based, then you need to revisit your premises. Otherwise, I'd like to hear these reasons. Is it because they are a Canadian Monopoly? Have you considered them on a world basis? Is it because the government will not let them fail? Gov let Nortel fail. Is it because of their cash? Half of their equity is in Account receivables. Is it because of their cashflow? No retort here since I don't know what I am seeing in cash flow.

Tell me, because I have started looking at it after the slide.


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## avrex (Nov 14, 2010)

Causalien said:


> Re examine why you bought it, list them,


I bought RIMM-Q in early April as it moved down to $56 USD. My reasons were that even with declining sales and market share, I felt that RIMM represented good value at that price. Their Canadian status did not affect my decision.

Clearly I was wrong and I was, in fact, catching a falling knife.


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## kcowan (Jul 1, 2010)

It will be intersting to try and time the bottom. I did that in Nortel and made double.

Since AAPL is my long hold in this sector, this would be a purely speculative play.

(Of course Nortel was around $0.77 when I bid market and got it at $0.86, held until $1.70 and then sold. It was the only time I played the stock. It subsequently went to $27 but I was not greedy.)


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## Jungle (Feb 17, 2010)

They got downgraded again today.


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## canadiancanuck (May 12, 2011)

*I guess it depends what you read*



Jungle said:


> They got downgraded again today.


_"According to Zacks, no fewer than 18 brokerage firms maintain a "buy" or better rating on the Canadian smartphone concern."_
source

I am not going to say that RIM is roses but there is definatley something funny going on with this stock. A P/E ratio less than 7 for a company who is considered a business stalwart in the smartphone sphere.

Just my two cents.


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## ddkay (Nov 20, 2010)

> Despite both upstream and downstream PC and smartphone players claiming to have not seen any component shortages and that they will see normal supplies until the end of May 2011, sources from upstream component players have pointed out that Asustek Computer, Acer, Motorola, Apple, High Tech Computer (HTC), Quanta Computer and Compal Electronics have all recently started acting aggressively in securing supplies of MLCCs, PCBs and cover glass for touch panels due to warning signs of shortages.
> 
> The sources pointed out that PC- and smartphone-related players have all claimed to have not seen any supply issues after the earthquake because of concerns that it might cause upstream players to panic and even raise their product prices, while trying to prevent the subject from impacting their new product launches. However, most of these makers have all been working on stocking their component inventory behind the scenes, the sources added.


Shortage of smartphone and tablet PC components emerging
Supply chain may not be able to satisfy demand from Apple

Nokia and RIM are among the smallest players in this game


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## liquidfinance (Jan 28, 2011)

I do feel the PlayBook will be a success and as a PlayBook owner I also feel it is a compelling alternative to the Ipad. I also think it will attract people who had never previously thought of looking at BlackBerry devices. I am not Canadian so have no loyalty at all to the brand but I like what they are doing.

The PlayBook does have its faults but mostly software based and the updates are being rolled out. To me at the current price I think RIM is a buy. I wont be jumping in with a lot of money but as a previous poster mentioned I believe we could see a price in he order of $76


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## brad (May 22, 2009)

ddkay said:


> Nokia and RIM are among the smallest players in this game


And it's worth keeping in mind that the game itself is relatively miniscule (less than 1%) compared with the overall cellphone market worldwide. Everyone we know may have a smartphone, but more than 99% of cellphone users in the world do not have a smartphone. I believe Nokia is still king in that market.


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## Kim (Jan 10, 2011)

Hey I should see if I can get my couple hundred back I lost in April too 

Seriously though, investors can sue for their $$ back?? It's the stock market - there are risks - you took it - you lost - get over it - right???

http://www.canadianbusiness.com/art...ction-lawsuit-over-claims-it-misled-investors


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## Eclectic12 (Oct 20, 2010)

kcowan said:


> It will be intersting to try and time the bottom. I did that in Nortel and made double.
> 
> Since AAPL is my long hold in this sector, this would be a purely speculative play.
> 
> (Of course Nortel was around $0.77 when I bid market and got it at $0.86, held until $1.70 and then sold. It was the only time I played the stock. It subsequently went to $27 but I was not greedy.)


Hmmm ... I did similar but remember Nortel following a slightly different path.

I considered at $0.77 but a co-worker who played hockey with Nortel workers had some bad news to share.

After I sorted that out, my buys were between $2.70 and $3.20 per share. When it started to drop from the $12 mark, I sold 80% for $11 and when it hit about $7, I sold the rest.

Now here is where my memory differs - I remember it sitting at a couple of bucks for a while - followed by an 10 for 1 reverse split - which is what put it up to the $20-ish range from something in the $2.xx range.

This sticks in my mind as my aunt was convinced it had gained value, was ignoring the reverse split and figured they were making a comeback. No matter how I explained it, all she could see was the increased share price.
http://www.canada.com/topics/story.html?id=9001e933-6f50-4b18-82e0-607ca22dfdfc

It didn't pan out as next up a little after two years later was the bankruptcy.
http://www.theglobeandmail.com/report-on-business/article965444.ece


Cheers


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## Eclectic12 (Oct 20, 2010)

Kim said:


> Hey I should see if I can get my couple hundred back I lost in April too
> 
> Seriously though, investors can sue for their $$ back?? It's the stock market - there are risks - you took it - you lost - get over it - right???
> 
> http://www.canadianbusiness.com/art...ction-lawsuit-over-claims-it-misled-investors


Well there can be monkey business within the company.

I remember when I received an invitation to join the Corel lawsuit. While the CEO was fined etc. - I couldn't see why I'd want to get involved when I bought for $3 and sold for $7+.


Cheers


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## humble_pie (Jun 7, 2009)

maybe w unbelievable timing kcowan was able to sell his lululemon just prior to the peak & buy rim at what appears to be the trough ...


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## kcowan (Jul 1, 2010)

Eclectic12 said:


> Now here is where my memory differs - I remember it sitting at a couple of bucks for a while - followed by an 10 for 1 reverse split - which is what put it up to the $20-ish range from something in the $2.xx range.


Right. I stopped following it after I had sold, so the $27 was post reverse split.


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## kcowan (Jul 1, 2010)

humble_pie said:


> maybe w unbelievable timing kcowan was able to sell his lululemon just prior to the peak & buy rim at what appears to be the trough ...


I am long on LLL and THI as my only retail holdings. Both seem to be peakish. Ice cream at timmies seems to be a fad but might backfire. A new CEO is bound to have an influence...

RIM could go either way.


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## marina628 (Dec 14, 2010)

Ice Cream at Timmies is amazing! seriously we go there for more ice cream than coffee now.Don't underestimate that money maker as it is not cheap but makes DQ look like garbage.


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## andrewf (Mar 1, 2010)

Tim Hortons:

-terrible donuts
-mediocre pastries and coffee
-decent sandwiches, but overpriced compared to their competitors (subway)

If I have to eat at Tim Hortons, I usually get the chili, which is not bad. They need to do something about quality. Especially with McDonald's new coffee offering and McCafe rollout, Tim Hortons needs to pull up their socks in the coffee department. When you're selling a drip coffee for $1.60, there's not excuse not to use decent beans.


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## kcowan (Jul 1, 2010)

> A group of shareholders has filed a class action lawsuit in the U.S. against Research In Motion, claiming the BlackBerry maker misled investors about the company’s financial prospects in recent months. The lawsuit alleges the company knew that product delays and disappointing product launches would hurt its earnings, but failed to disclose this to investors. The filing stated, “Specifically, the company failed to inform investors that its aging product line and inability to introduce new products to the market was negatively impacting the company’s business and margins,” and that the stock was trading at an artificially high level as a result. The lawsuit covers the period of time falling between the company’s announcement of Q3 results in December to the date it cut its earnings projections in April, a month after announcing Q4 results. The revised earnings forecast sent shares dramatically lower, and the stock has not recovered since. The filing did not specify the amount of damages being sought by the plaintiffs and names co-CEOs Mike Lazaridis and Jim Balsillie as well as CFO Brian Bidulka as defendants. In response to the filing, Research In Motion released a statement saying it believes the claims are without merit and that it would “vigorously defend” itself.


Boy they sure like to kick them when they are down!


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## ArmchairHero (Apr 4, 2011)

Wow this is bad. Maybe they can hope to turn things around if there were some changes at the top:

http://ca.finance.yahoo.com/news/As-RIM-struggles-talk-change-reuters-2750817634.html


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