Tuesday, August 29, 2006
Position Update: PALM
Finally, PALM has caught a bid, as anticipation of the new Treo release builds. Also, PALM is releasing its Treo in Europe, September 12th.
So, unlike other tech names, PALM has a few catalyst's going for it and I expect the 17.5 million share short position to shrink-- as PALM regains some institutional sponsorship.
In my book, the stock needs to break $15.60 to have a clean breakout.
UPDATE: via Flyonthwall.com:
8/29/06
PALM- believe quarter is looking in-line@Pacific Crest
The firm said that PALM is still not seeing an impact from competition but the firm said that they need to see more of a ramp before there is material upside.
So, unlike other tech names, PALM has a few catalyst's going for it and I expect the 17.5 million share short position to shrink-- as PALM regains some institutional sponsorship.
In my book, the stock needs to break $15.60 to have a clean breakout.
UPDATE: via Flyonthwall.com:
8/29/06
PALM- believe quarter is looking in-line@Pacific Crest
The firm said that PALM is still not seeing an impact from competition but the firm said that they need to see more of a ramp before there is material upside.
