MOT closed today at 7.62 (in after hours trading), down 4.74% from yesterday, when it went up around 4%. I currently have mixed feelings towards MOT, and I would probably wait for the stock to start going up slightly in order to know where the bottom is. Motorola is a very volatile stock, but it’s very bullish on the long run.

Technically, I think the stock will test the 7.50 level before rebounding to 8. MOT has support located at 7.45 and resistance located 7.70, 7.82, 8.00, and 8.06 (I’ve mentioned all these resistance levels as MOT seems to break them all in just one trading day).

Now after talking about the stock technically, I would like to add my own feelings. Again, in my visit to the electronics retailer this noon, I noticed that they didn’t have a lot of Motorola phones in stock (only a couple). They had a lot of Samsungs, Nokias (the cheap ones), and Blackberries (well, after all, this is Canada). They only had one Sony (I guess it was called Xperia), which costs a lot. Going back to Motorola, and seeing only a couple of phones in there, one has to wonder, are Motorola sales really that strong? Or is the market punishing AAPL for the antennagate? Or maybe mistakenly associating Motorola to the success of Android phone sales that surpassed those of the iphone.

Whatever it is, I don’t feel great about this stock, so I will shy away from it, save for the time when I feel it has gone down too much, too fast. I’ll just buy it then for a nice, short trade.

PS: Since the topic is smartphones, I would still stay away from RIMM until it’s somewhere below $50, then it’s good for only a short trade. I would never go long on this stock: too many unknowns, lots of competition, and no real innovation.