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Bold Move By RIMM

Expect to hear from Research in Motion Thursday on their scheduled launch of the new BlackBerry Bold which will first be available in Canada.

Advance buzz is good but not great. Citi Investment Research analyst Jim Suva says its completely new browser is a "big improvement" from the earlier Curve and Pearl models. Also, the phone's display is noticeably better, Suva said after watching the comedy film "Talladega Nights" on it.

However, he said there were a few occasional high-speed signal-dropping problems, especially on streets with tall buildings

Overall Suva concludes that the new BlackBerry Bold is a "strong product", but it isn't revolutionary

He added the device will appeal to business users -- especially those who travel internationally -- "but less so to consumers given its likely high price between $300 and $400."

No word yet when the device will be launched here in the U.S.

Is there a trade to be had?

I think RIMM should trade around $140 heading into the fall, says Joe Terranova.

Citi just put a $160 price target on the stock and Merrill has a $170 price target on RIMM, adds Guy Adami. When the stock gets momentum it tends to move higher.

But the Citi analyst said it was “not” a game changer, counters Pete Najarian. I’m not so sure.

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Trader disclosure: On Aug 19, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (CY), (MSFT), (WMT); Adami Owns (AGU), (C), (BTU), (GS), (INTC), (MSFT), (NUE); Pete Najarian Owns (AAPL) And Is Short (AAPL) Calls; Pete Najarian Owns (CSCO) Call Spread; Pete Najarian Owns (LEH) Put Spread; Pete Najarian Owns (MS) And Is Short (MS) Calls; Pete Najarian Owns (NVDA) Calls And (NVDA) Call Spread; Terranova Owns (AAPL), (BNI), (CME), (EOG), (FCX), (GS), (GOOG), (INTC), (KOL), (NOV), (POT), (RIMM), (SA), (XLF), (SU), (X), (VLO), (YHOO); Terranova Owns (AIG) Puts; Terranova Is Short Crude Oil Time Spread (Short Dec. 2009, Long Dec. 2012); Terranova Is Long Crude Oil Futures (Dec. 2012)

Terranova Is Chief Alternatives Strategist Of Phoenix Investment Partners, Ltd.; Phoenix Investment Partners Owns More Than 1% Of (ABD), (ARE), (BRE), (CNTY), (CLB), (OFC), (DLR), (ESS), (EXR), (FL), (IAT), (IGE), (LNET), (MAC), (OIIM), (PSPT), (DBC), (DBV), (SLB), (SKT), (BLV)

Terranova Is Co-Portfolio Manager Of The Phoenix Diversifier PHOLIO; Phoenix Diversifier PHOLIO Owns (IGE), (DBC), (DBV)

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