Any comment on PALM?

[JohnHenry]

This company has beaten earnings estimate the past four quarters by two or more cents
I think they will beat the numbers for this quarter.

It’s trading below the 50, 200 day moving average, and the RS is 51.
Today was the biggest up movement in days.

Is this a good buy and is this a good entry point yet?
Am I catching a falling knife?
What do you think?

IIC? JIESEN? LYE? NBB? RUNNER? SKI? SPIKE?

Thanks for the valuable feedback.

Sorry I don’t have the application to shrink my chart to meet the minimum requirement to post.

[Websman]

This company has beaten earnings estimate the past four quarters by two or more cents
I think they will beat the numbers for this quarter.

It’s trading below the 50, 200 day moving average, and the RS is 51.
Today was the biggest up movement in days.

Is this a good buy and is this a good entry point yet?
Am I catching a falling knife?
What do you think?

IIC? JIESEN? LYE? NBB? RUNNER? SKI? SPIKE?

Thanks for the valuable feedback.

Sorry I don’t have the application to shrink my chart to meet the minimum requirement to post.

You failed to mention the VTP, therefore, I can not give you my analysis

[JohnHenry]

You failed to mention the VTP, therefore, I can not give you my analysis

Hi
Um...I don't know what VTP means? Hint?

[billyjoe]

Stky,
Based on the fact that I lost my a.. on this one a couple years ago in a 24 hour span, I'd say don't touch it with a 10 foot pole.

billyjoe

[JohnHenry]

You failed to mention the VTP, therefore, I can not give you my analysis

Vulcan thought process???

[Runner]

Here is what I see with PALM and many stocks out here. First off you have no idea if it is done with its pullback. I’d wait for confirmation that the trend is changing. I do not see that in PALM at this time. Sure nice pop today but I’d wait to see if it puts in a higher low or what is also known is a market structure low (MSL). In order for this to happen PALM will need to move up more from today’s close. I think bottom fishing is great if that’s what you do and or it works for you. I see nothing to get excited about in most stocks just yet… But hey good luck..

How many other stocks have beaten earnings and have got beat up big time! A stock is only a good stock if you make money on it IMO. But I wouldn’t know what earning were if they slapped me in the face.. as I don’t care about them because I’m not in them long enough to matter..

[skiracer]

This company has beaten earnings estimate the past four quarters by two or more cents
I think they will beat the numbers for this quarter.

It’s trading below the 50, 200 day moving average, and the RS is 51.
Today was the biggest up movement in days.

Is this a good buy and is this a good entry point yet?
Am I catching a falling knife?
What do you think?

IIC? JIESEN? LYE? NBB? RUNNER? SKI? SPIKE?

Thanks for the valuable feedback.

Sorry I don’t have the application to shrink my chart to meet the minimum requirement to post.

When a stock takes a nosedive like PALM has it creates a whole lot of overhead supply of shares available. It takes alot more than one upbeat day, which was probably because the market was up today, to work off all of that supply. Without getting into the chart and the chart speaks for itself, I just don't see anything there of interest. I think this could go to $13.50/14 area very easily as people who got trapped buying at anywhere from $18 to $24 look to unload on any strength just to save some portion of their positions. I think you will see alot of selling into any exhibited strength as those positions unwind. There are also alot of positions in from the $14 to $18 range that will be exiting in a heart beat, to save their gains, if it begins to breach their entry levels. I would stay away from it. There are plenty of other better stocks making setups that would better serve your time and money. Relying on the next earnings release just doesn't cut it. I would also need to see it get back above it's 200 and 50 before giving it any consideration.

[jiesen]

Stky,

I'd recommend not buying this one right now. Not that I have anything against PALM in particular, but I think you'd be better off taking some more time paper trading to get a feel for the whole stock trading thing before you jump into a purchase- spend a few more months doing the POTW, and tracking a few of your own portfolio setups to see what your different ideas play out like. Be patient, and cast a broad net- try not to get lured in by what's hot at the time, because fads will change, and one day PALM will be selling the modern day equivalent of buggy whips.

Usually the best buys are the boring ones. Look at the pick Peanuts gave us, NSS, which makes 'tubular products'. How boring is that? But they're making a ton of money, and the P/E is still just 8. A bunch of solid companies like this in your portfolio can consistently drive your account value up 10-15% per year with very little oversight on your part. That beats sweating missed analyst estimates on a high flier that can send your stock down 40% overnight.

The key, I think, is to try to gauge a company's value, and then buy it for a lot less, not necessarily to try to outguess the market on the next earnings report. Do some more looking to see what the best values out there are.

[spikefader]

This company has beaten earnings estimate the past four quarters by two or more cents
I think they will beat the numbers for this quarter.

It’s trading below the 50, 200 day moving average, and the RS is 51.
Today was the biggest up movement in days.

Is this a good buy and is this a good entry point yet?
Am I catching a falling knife?
What do you think?

IIC? JIESEN? LYE? NBB? RUNNER? SKI? SPIKE?

Thanks for the valuable feedback.

Sorry I don’t have the application to shrink my chart to meet the minimum requirement to post.

I don't like PALM technically cuz it got so beaten up since the crashing channel behavior up at 21.00 recently. Look at the blue channels; that action is not what I like to see for a long.

But it doesn't qualify as a dead cat in my book yet. Still some really good support under it, like the big island reversal in the last 4 months of last year.

But all that said, one can't ignore that at this point in time the risk reward favors bulls. See chart r/r graphic. If we have a major low in place for the broader market, and hence PALM, your target is the upper channel, or recent highs, both which are nice targets if you're presented with a 3% risk entry. As a side note, that's what I'd tell you to focus on THE MOST with your entries as a budding trader; Focus on what your risk is going to be, and where the smartest stops are; and wait for price to come to you. This forces patience, and planning, and will prevent you chasing strength. You ideally wanna buy into weakness, certainly and at least on an intraday basis, and where possible on a daily basis too. There is statistical edge to buying weakness at support; and that takes patience. New traders will chase price bulllishness only to witness discounting retracement to support levels, so don't be a newbie. But sometimes one just has to be aggressive with entries and I have setups for that too and do it where appropriate in a chart. I don't think PALM is the kind of chart worth being aggressive with entries....so go for the discount 'b' down to reduce risk and increase your reward/risk ratio.

The logical stop locations from the 'b' entry will be either under today's candle or under the island gap, but I wouldn't risk that much on this chart.

Looks like it's finished a fuzzy 5 waves down now, and doing an 'a' up so the next technical entry I'd like is to buy the 'b' down with a 2 or 3% stop under the 5 (recent low)....or a nice channel long in a several weeks would be nice to look for too.

Hope that's of some help, and good luck if you take it.

[JohnHenry]

Hi

The stock has taken a beaten due to a new product from Motorola the “Q”, due to share holders is afraid that PALM may lose its market shares to “Q”, and maybe due to a few margin calls for those that purchased the stock at $20 or above, that’s my thinking.

I was trying to follow the CAM SLIM rule of “Cup with handle”. I was thinking at point 5 from SPIKE’s chart this would be the beginning of the bottom of the cup and round up in a few weeks.

Do you always use the “Cup with handle” as an entry point or just a reference guide?

I will be patience and learn more while paper trading and doing POTW.

Thank you everyone for your valuable time and feedback.
GEE I would of lost all my $$$ huh!


BTW SPIKE, give me a few days to study your chart if you don’t mind helping me understand what you did? Thanks again

[skiracer]

I think this might be what you were looking for with PALM. It's a great setup but has to be caught at the right time in the cup/base formation. IMO PALM is going to need some decent time to recoup, sell off some overhead supply, and let the market see what MOT's new Q phone is all about. From what I have been reading the new Q phone doesn't quite measure up to PALM's Treo 650. Be patient above all else and get more experience with the chart formations. Take a look at this site for some great educational material and decent free charts. www.incrediblecharts.com. Very cheap, $12 monthly, subscription price after the free trial with a lot for that. There's plenty of time to start losing money so no use to rush into anything on what you think you see in a stock. Make sure you trade what you see and not what you think. Good luck.

[Lyehopper]

Redneck TA on PALM....

PALM satisfied it's 61.8% retracement late last week and is now trying to breach the MA200 from below. If it fails to break through.... and finish above the MA200.... it will probably head down for the gap @ $15.53. I think a quick long trade off the gap might be worth a 5-10% pop.

[JohnHenry]

I think this might be what you were looking for with PALM. It's a great setup but has to be caught at the right time in the cup/base formation. IMO PALM is going to need some decent time to recoup, sell off some overhead supply, and let the market see what MOT's new Q phone is all about. From what I have been reading the new Q phone doesn't quite measure up to PALM's Treo 650. Be patient above all else and get more experience with the chart formations. Take a look at this site for some great educational material and decent free charts. www.incrediblecharts.com. Very cheap, $12 monthly, subscription price after the free trial with a lot for that. There's plenty of time to start losing money so no use to rush into anything on what you think you see in a stock. Make sure you trade what you see and not what you think. Good luck.

Hi Ski

The url for the chart says palm0fq.png but on the chart itself it says MED. Am I seeing things? maybe because I just woke up from my 18 hour nap

[Lyehopper]

Hi Ski

The url for the chart says palm0fq.png but on the chart itself it says MED. Am I seeing things? maybe because I just woke up from my 18 hour nap

..................SsSsSsSssssss!

[Runner]

Ski, thanks for MED...