Pushing Chips On The Table
February 6th, 2006 by BWV
As expected, IBM showed more weakness today. The break of the Up Trend Channel since last May now looks very ominous. Even more so if you consider the longer term price action — IBM has not made a new All Time High since 1999.. and we are now in territory below the 2004 Lows.
I sold short today at 79.40.. initially thinking I’ll accept about 3 points of risk to the upside.
Short IBM
