Good Bet on AAPL/RIMM Paired Trade and Lottery Ticket

My paired trade of long-AAPL-short-RIMM is going to pay handsomely tomorrow as RIMM dropped 20% after hours. I’m going to take my profit tomorrow and put maybe about half of it toward my I-don’t-care-if-I-loss-it-all fund. I’m going to keep a small position on AAPL since I believe the market risk has subsided a little bit and I do believe Apple with tons of cash can and will eventually come of this economic downturn as a winner.

My lottery ticket FNM is also going pretty well. FNM is trading close to $2 the level I was hoping for.


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