Anyway, we are going off the charts to get the technical mumbo jumbo, chicken gumbo, if not Ramen perspective on RIMM… even if you think that technical analysis, drawing conclusions about a stock from its charts is totally bogus… if you are a died in the wool fundamentalist… along the lines of Warren Buffet, Benjamin Graham, Jim Cramer, or the new stock gurus on Cramer fave “The View” and not a fundamentalist in the vein of Jerry Falwell.. you still have to respect the charts… because in this market a lot of the big money guys follow them… we care what the big boys think because they have the power to move stocks… and as part of my job as your investment coach it is to teach you how they think… so you can get an edge… right now technical analysis is very much in style on the Wall Street fashion show… because the fundamentals are so difficult, so influx… and you have to keep up with all of the latest styles so you know what the big guys are going to do.

What can the technicals tell us about RIMM… well, we got a technician here, we got Rick Bensignor, he is the chief market strategist at Executive Limited, and my colleague at TheStreet.com, where I am chairman… who says the chart for RIMM is very positive… remember Bensignor is the chartists who called the turn in the financials… he just nailed it… including a double in Bank of America… so we are all eyes and ears when Bensignor tells us what do to… during the trading day yesterday he sent out a memo to his clients at Executive Limited endorsing RIMM… and saying that he would go to $71 and then to $80... but there will be a pullback.. today we got the pullback so I think we have good scoop here.

So, why does he think that about RIMM… let’s look at the daily show… I meant the daily chart… what you are seeing here is a "W"… okay, a W-shaped bottom… with what is called an island reversal pattern… that is not just jibberish meant to confuse you and keep you ignorant… or a reference to some serious setbacks that you might have had at Treasure, Pleasure, or Fantasy Island… the bottom is like a W, see… here is something that you have got to see… the island of reversal is when a stock gaps down… right there… and on the way down, like RIMM did right there… and then gaps up… right there… on the way back up… about the same place… which is what we saw… the space between the two gaps looks like a little island… chartists tend to see this as a very bullish pattern… indicating that the down trend is over and that a new uptrend is beginning… the opposite would be true on the upside… in other words, when you get an island reversal flip… you know that you are going to go lower.

Bensignor sees more evidence of his bullish thesis on the weekly chart … where RIMM broke thru the downtrend line from last fall… so any technician who was shorting the stock based on the trend would have to rethink their thesis and say that it was invalid and incorrect… now, here is another one… I really love this… it is also broken out over a 200 week moving average… very long term measure of how closely a stock is hugging its trajectory… over the previous 200 weeks… which supports the idea that RIMM is going higher on a new up trend… see here you can see the broken down trend line right there…the technical picture is very bullish… Bensignor has said that he thinks RIMM is a buy on any pullback… at the higher mid $60’s… and today’s 4 point pullback, well that is about as close to a great entry as you can get.

What about the fundamentals though… I think RIMM is kicking butt… one of the best tech stocks out there… with real growth… not phonied up estimates, that were reduced and then they trumped them… RIMM came out with a better than expected quarter back on April 2nd… beating the streets consensus earnings estimates by .08 cents… that is a huge beat… that is a beat down… and given our guidance for the next fiscal year that was higher than expected… sales growing at a 24.5% clip, better than expected… company added 3.9 million new Blackberry subscriber accounts… 40,000 more than the street was looking for… the company has been cutting costs in R&D along with its supply chain and manufacturing teams… and the benefits should kick in during the current quarter… what will that do… it will result in higher margins… meaning for that every dollar of sales, this is important, a greater percentage will become profits… RIMM’s gross margins have been falling since August of 2006... so the fact that it expects to start growing them again has eased a lot of concern on the street about margin erosion… in some ways that is more important than 24% revenue growth… although I have to tell you, I don’t have more than a handful of companies growing faster than this one… and the street loves growth… this is why I think you have this move, it is the margins getting better.

Last quarter RIMM saw 7.3 million in activations… highest of all time… this is when the economy is in terrible shape… imagine what it is going to be like when things get better… terms of competition… RIMM has been taking share in the Smart Phone market… there are no new Smart Phone models coming out in the near term from Apple or Nokia… those are RIMM’s biggest competitor in North America… the new Smart Phone from Palm, the Pre, some limited competition within Sprint… but as cool as I think it is… I am not all that concerned… valuation… cheap… even though RIMM is expected to grow earnings by 14.3% for 2009 calendar year… growth rate for its peers is 7%… RIMM trades at only 16 times earnings… it is amazing how cheap you can buy growth in this market… it its peers sells at 21 times earnings… stocks with higher growths should get higher multiples… RIMM deserves to go higher… the only reason that it hasn’t gone higher yet is that people can’t believe how much it has come off of the bottom… but I think it is going higher.

The bottom line…