Friday, April 9, 2010

They left PALM for dead

I could not find anyone who liked Palm after its latest collapse. Everyone thought it had no chance as the competition ate its lunch - and dinner. But take a look at this chart:

Sure looks like a selling climax and buying surge. Think 90% downside day followed by a 90-% upside day as applied to the market as a whole. The tsunami tide pulled back and then rushed back in.

It is still way early to say that this is going to be a winner but for those of us who speculated on the final washout (I did) there may be a nice little payday here.

3 comments:

奕LonniePettus0908希 said...

Learn wisdom by the follies of others. ..................................................

forex-cat said...

Your article is always useful.
Thanks.

Quick Takes Pro said...

Kicking myself for taking such a small position. But, pigs get killed and its time to take a partial profit.