Since the last peak at 196 and the Q1 results , the price has been walked down in an orderly fashion .. no
big selloff .. volume has been very tame ... this is not technical action of big money running .. it's almost
like a group of insts knows what it's doing .. they are taking profits , raising some cash , but not leaving ..
My guess is that IBM will retest lows of about 175 , after that it could continue to oversold territory , but
i would not want to predict the bottom , nor time it , but we could see 140 or less before things start to
gel ... i'll be watching , but my powder will stay dry at least through 2014 ... later ... garce
Cramer is not always wrong .... IBM managed to stay lofty the past 4-5 quarters .. as the big
guns get convinced that there will continuing decrease in revs , they will be selling and i have to
imagine that many are starting to build a short position
Y'all know that i bleed blue , but i'm not stupid , and also remove my emotions when it comes to
investments ... long , long term , i'm still bullish on Big Blue , but the stock price isn't going anywhere,
anytime soon ....
If you are holding long , this would be a good time to start playing the "sell covered calls" game .. garce