Flat Market
Market’s been fairly flat today in anticipation of the jobs report coming out tomorrow morning. After the bell, Research in Motion (RIMM) will announce earnings. I’m tempted to purchase before the bell but I’ve been burned twice before with purchases before earnings reports. I expect RIMM to completely blow estimates out of the water. They’ve been able to penetrate the Chinese market with their Blackberry phones and as a result I think their estimates are undervalued. The issue becomes the latest run by RIMM in anticipation of their earnings report. To be honest, it appears it can go either way even if RIMM does surpass earnings. If investors aren’t pleased with the high earnings, you can see RIMM drop 10-15 points. If investors are elated, we could see RIMM jump 10-15 points as it did over the summer. I’ll update at 16:00.
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