Research in Motion, Connacher Oil & Gas, Polaris Geothermal and Western Wind Energy

by JDH on May 19, 2008

Time for a quick review of some non-uranium and non-precious metals stocks. First up: RIM.TO – Research in Motion Ltd..

RIM Research in Motion

I’ve made money on this one over the last few weeks, and long term I like it; they have lots of new products to unveil over the summer and fall, which should drive the price higher. A pull back to the medium term up trend line is likely, so I’m putting my stink bid in at $138 (which isn’t really very “stinky”). Given the volatility on RIM, if it bounces after I buy it I’ll probably cover it and lock in my gains. I realize that limits my upside, but it’s the summer, so limiting down side is also wise.

Over on the Buy High Sell Higher Forum, richmanch suggesting looking at Western Wind Energy Corp., symbol: WND.V – Western Wind Energy Corp.:

WND Western Wind Energy

Western Wind Energy has broken out to a multi-year high, which is good, but the $3 level looks like a double top, and the RSI is over $70, so I think a buy order at $2.50 is probably a safer play. The company looks solid, and some diversification away from gold and uranium is not a bad idea.

I also own GEO.TO – Polaris Geothermal Inc., obviously a geothermal play.

geo Polaris Geothermal

Polaris Geothermal is obviously in a down trend, but it is also above both it’s 50 and 200 day moving averages. I own it, and would consider below market bids at $1.10.

A possible oil and gas play is CLL.TO – Connacher Oil & Gas Ltd. which has just broken out of a long consolidation.

connacher oil gas

The RSI is too high to be buying now, but I may put in a stink bid at $4.50 for half a position.

I’ll continue to look at other possible plays, although nothing has grabbed my attention during my review of the new high lists recently.

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