Research In Motion (RIMM) Adds Another 7% To Friday's Impressive Run-Up

After gaining nearly 21% on Friday after better-than-expected results and guidance, shares of BlackBerry maker Research In Motion Ltd. (Nasdaq: RIMM) are up another 7% today.

Shares of RIM benefited Friday from the strong results and the choir of analysts cheering the surprise number, and now it appears short sellers are throwing in the towel. Smart short sellers made a killing as the smartphone maker's stock dropped over $100 from its 52-week high of nearly $150. Those that locked in profits have reason to smile. Those that were late to the game are now feeling the pain.

RIM shocked everyone with better-than-expected margins in a highly promotional retail environment. Can RIM continue their dominance in the face of a weak consumer and massive smartphone competition or are the smart short sellers right to load up again?

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