Categories
TA

A Review of Trend Trading with Ichimoku on PALM

Here’s a review of how I have traded PALM using Ichimoku.

I will provide 2 set of entry and exit prices. You should be able to identify a 3rd set of entry and exit (which will not result in much profit).

1. Entry 1 (Jan 8, 2009)

– PALM gap up on news of Elevation Partners investing in it.

– The chart shows the price and Tenkan sen, Kijun sen going above the kumo

– Let’s assume we got in at the high of the day at 6.58 (Day 1)

– Subsequent days did not go below the low of Day 1, so we are not stop out.

2. Exit 1 (Feb 27, 2009)

– Tenkan sen – Kijun sen has a bearish cross

– We assume we get out at the low of the day at 7.124

– Profit = (7.124 – 6.58) = 0.544 per share

3. Entry 2 (March 23, 2009)

– Tenkan sen – Kijun sen Bullish cross

– Price also rebound off kumo support

– Get in on March 24 after the price has cleared the resistance at around 8.69 , entry price is 8.75

4.  Exit 2 (July 23, 2009)

– Tenkan sen – Kijun sen Bearish cross

– Get out at 13.71 (low of day)

– Profit = (13.71 – 8.75) = 4.96 per share

So, total profit is $5.50 per share (from the 2 trades)

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Categories
Tech

PALM : Jon Rubinstein Appointed CEO of PALM

SUNNYVALE, Calif., Jun 10, 2009 (BUSINESS WIRE) — Palm, Inc. (Nasdaq: PALM) today announced that its board of directors has appointed Jon Rubinstein to lead the company as Chairman and CEO upon the departure of Ed Colligan, who is stepping down after sixteen years of leadership at the company. Rubinstein, who joined Palm as Executive Chairman in October 2007 to help bring innovation back to the company, assumes his role as CEO on June 12. Colligan plans to take some time off, then join Elevation Partners.

With Jon Rubinstein appointed as CEO of PALM, I expect that there will be more ‘innovations’ coming out of Palm’s product line.

This is probably a very good setup for more product lines based on WebOS. Financially it will be challenging because of the downturn. At the same time, it is also the best time to take market share from other competitors who may reduce spending on R&D.

It feels like the time when Steve Jobs was heading Apple again. A perfect setup for multi-years growth, perhaps?