Written by: Trader 1/26/2009 4:11 PM
PALM is one of those companies I just don't understand. I think they should be out of business by now. Still, they're on a tear relatively speaking and a bullflag is forming on the daily charts. Any further push down is going to set up a buying opportunity for a scalp play. My instincts say don't overstay your welcome - once it starts to move in your direction, trail a tight stop. Daily chart is shown below.
Coffee did an upside breakout from a sideways line on Monday. Any pullbacks to the 30 min and 60 min 20 period EMA will set up buys for at least a scalp, if not a more extended run. If that happens on Tuesday then buy at those levels. Otherwise, pass.
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