Sold PALM, Bought ASFI

I just recommended PALM a few weeks ago, and my regular blog readers know that I usually will buy in and stay put for at least a few months. So why I am selling now?

It is because of Apple. If you haven't watched Steve Jobs's keynotes 2007 about iPhone, go ahead and watch it. I noticed there are quite a handful of doubts on iPhone out there, I don't. iPhone has all the features that most users want and other phone doesn't provide, and I couldn't convince myself that iPhone won't prevail. With the iPhone release in June, I see some uncertainty in PALM, even though its price is very low. Please note I am not recommending Apple, it is without doubt a great company, but the stock price is high as well.

I sold PALM with a 3% loss. As I recommded last time, ASFI is moving up slowly, and I bought ASFI at $32.20 today.

I didn't update the site often this month. Tell you the truth, I just don't see many stocks that excite me now, which is also influenced by my not-so-positive view on the market as a whole.