Buying Swing: buying PALM at 8.45 OVERSIZED . PALM has moved
Posted: Tue Feb 23, 2010 1:42 pm
Buying Swing: buying PALM at 8.45 OVERSIZED . PALM has moved down sharply today after a slew of downgrades but here I see a possible bounce setup. this is also a hedge on other bearish bets. Mental stop on this position at 8.30. If she was to bounce then my intraday bounce target would be 8.80 area. This is the first time I attempt a bullish position on PALM since she started her larger retracement from 18 bucks that we profited from initially but dident play all the way. From 18 bucks to 8 bucks I would have to think a lot of this should by now be priced in and this is why this could be a good swing but with all the negative downgrades so fresh have to even down here be nimble.