Traders Playground

Buying Swing: rebuying PALM 5 strike april calls at .42 OVERSIZED . Yesterday it was to risky to hold the 5 calls but we held a good chunk or the 4 calls and the stock we had entered into at 4.16. As mentioned Wednesday my target on a real short covering rally on PALM remains 7 even though when mentioning this high target when 4 was passed brought about a great deal of email on the subject but PALM with takeover speculation dose not have justification for levels remotely this low. This is a stock that has been shorted like no other in tech and therefore the upside on short covering rallies is unique here. Am very regretful of not holding the 5 calls from 18 cents yesterday but the risk was high , now we see the accumulation of list of possible takeover candidates remove the risk as short covering by hedge funds becomes a necessity. big smiles guys the 4 calls from Wednesday should soon give us a home run 400% or more.