Always watch Motley Fool. They defend the (naked) shorts. When on e of these things take off, always watch for them to come out to bash the company. that means, the defense is in play. They'll be more bashing articles out in the next couple days. Just like clockwork. They've been doing it for years.
It is very annoying that we have such a bashing society. Facts dont matter when you can freak out the masses with a negative pump and dump allert. Happened with RIMM yesterday when all the sudden WSJ posted about big problems with the Storm. Freaked everybody out to dump monday. I looked for myself and found it was no more trouble than any other new product that comes out. Somebody at the WSJ must have shorted the stock and made out on the dump. It appears though that people realized it today and ran the price back up.
You know what... I read this last evening and thought - Hmmm - I was shorting in all morning and then covered in the 50's... so I was pretty happy. I wasn't interested in PALM at that point... long or short - but then I got to thinking... do we really need another "smart phone" --> No, short I went short again at 20 and carried it overnight... then I got to thinking; the levels were weak and the move up was a clinic in pushing shorts... so I covered in the 90's this morning. 90 was the obvious level but I didn't think it could really get to hear... So, my question is... wht the comment above. Thx B
If you look at the option chains you will see that the open interest is building up. They expect something big. It should retrace itself again to 6.50 and then get you another $2 run. I sold some puts and cashed them out already. Just watch it.
There are several ways to look at this stock. If you are strictly long term and you are bottom fishing for your later years, then this is too soon to be calling this a bottom in this stock. But if you are trading only, this thing will be up and down like a yo yo so you got to keep up with all the news of the world to guess its up days and down days. Look at the autos. They are pretty much toast and even their equity is in jeopardy of major dilution, but people right now are still trading it and making money. But if you are going to be playing with an ultra dangerous stock, make sure you fully understand the risks of what could happen. So keeping that in mind, Palm is certainly not going to be sued next week as they haven't yet done anything wrong. This wont happen till after they release their new product and get glowing reviews and probably an initial pop on their stock. From there, its a crap shoot. Anybody can sue anybody, but Apple then has to prove over a long period of time, if they own any part of touch screen that has been out since the invention of the laptop. If the phone looks great, more investors may come out of the woodwork to keep them propped up till they can make it on their own and make everybody rich. Lets not forget that RIMM was sued long and hard, and they even lost. And look at them now. Just goes to show, in the stock market, you never know till the fat lady sings. Man I just love this spell checker. I never use them but this one is really convenient. Just to introduce my self, my real name is Spelling Assassinator. Nobody spells worse than me but this checker is making the cleanest posts I have ever posted. Enjoy.
So the questions is, is Palm (PALM) ready to bet the entire company on Pre's multitouch? Jobs and Apple are not going to let the iPhone be challenged without a fight.