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Technology Stocks : PALM - The rebirth of Palm Inc.
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To: Andre Williamson who wrote (703)5/23/2000 9:00:00 PM
From: mr.mark  Read Replies (2) of 6784
 
The Palm Thermometer
By James J. Cramer

5/23/00 2:32 PM ET

Hit up a chart of Palm
(PALM:Nasdaq - news -
boards). If that isn't a chart of
this market's temperature I
don't know what is.

Many moons ago I used to
write about how the market had gotten too hot and
it was time to step away. I would always equate it
to that red-hot griddle in the Tunnel Dinner at the
Jersey end of that esteemed subterranean roadway.

That's the one where, after you have had too good a
time in the city, you get a sop-up egg sandwich
with Taylor ham and American cheese to go. That
griddle is so hot that if you leave the eggs on for
more than a few seconds, they burn.

Well, those days are
history. This market is
so cold, so full of rigor
mortis, that you can't
even get a pulse. You
could freeze an egg just looking at it.

Which brings us to Palm. This piece of
merchandise (where merchandise is a four letter
word) came when the griddle was at its hottest. Its
high price matched the temperature of the moment.

It is doing the same thing once again. This
sickening plunge to 22 sends a chill down my
spine. Palm is the iceman cometh.

It is also a brutal reminder of how hard things have
gotten. There is only one difference between this
stock and the actual thermometer that measures
heat.

The stock stops at zero.
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