So most of you are aware of my now embarrassing and well-publicized nautical disaster with the PALM IPO. My broker thought we could get in at $60 but we ended up getting in, uh… well.. in the $100 territory. So I’m a little bummed since those shares are now deep underwater. [NASDAQ:PALM $67.25 today] I have 200 of ’em.
So.. given that up until today I’ve been a good but inexperienced trader with relatively good instincts, doubling one of my portfolios in the last six months, do I walk away from $10K and play the market more aggressively, or do I hang on for another Palm pop and play with my other folios?
Palm’s Market Cap is worth almost twice what Apple is worth. All of the analysts are saying “If you like Palm, buy 3COM.” Further, what I think would be a blockbuster deal, the announcement of the deal with AOL, happened pre-IPO. What could come along to create another pop for Palm?
Ideas? Opinions? Public floggings? Reply to FOIB.. NOT to me directly. This is a groupthink exercise.
-Ian.