Palm, Inc.(PALM) Places Bets on Web-Centric Phone

"Embattled mobile device pioneer Palm is wagering that a new, cloud-centric smartphone platform called webOS and a curvy new phone, the Pre, will help to reverse its sagging fortunes".

"The event comes as industry observers are looking to gauge Palm's (NASDAQ: PALM) ability to make a comeback following years of slow declines -- while rivals like Research in Motion's BlackBerry and Apple's iPhone made inroads into the mobile device and smartphone spaces".
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On the daily chart you can see the impressive gap printed on Friday. The stock was up more than 33%. Resistance at $8. A closure of the gap would be deadly. Prices have moved from a low at $1.14 to the current price of $5.96 in a little more than a month! Not bad for this economic environment.