StockTRUM

With thoughts of a prolonged recession and increased savings rate from consumers, it means upscale spending should continue to be down even as the economy improves. This should affect Saks (SKS) and Tiffany's (TIF) and WFMI and Nordstrom's. It is also reported that casino business was down in December. That should affect LVS, MGM, WYNN, BYD. I haven't had a chance to review these stocks or add more. Just noting it with plan to review soon for action.

Palm closed at 7.47 today and the MACD has crossed on the daily chart. By mid-January, the stock had flown high on the PRE news up to 8.39. It's based since then, which is actually positive as the markets have fallen. There is still strength in Palm's move but moving from $1 to $8 in 6 weeks suggests a pullback. RSI crossing back under 70 suggests the time is imminent. There is a gap from 4.5 up to 5.25. First test will be to 6.5, then possibly 5.25. It will likely take longer to retest to 4.5. Michael Shulman suggests that> A cult stock that recently skyrocketed and attracted a lot of sucker money is Palm (PALM). The pioneer of the PDA, this company has been killed by the Research In Motion (RIMM) BlackBerry and the Apple (AAPL) iPhone. And the new Palm Pre is not going to change anything. The stock has climbed off a bottom of $1.80 to around $7, in part due to massive short covering. The company is a dead man walking, regardless of its new tinker toy. Do you really t...