I have traded $IBM twice now and both times I've loved how clean this stock is, it just works so perfectly, it follows through so nicely and it does exactly what you planned. Click here to see my previous $IBM trade, again a beautiful trade.
Due to other obligations I did not trade for about 2 weeks, I've done purchasing of long positions like my $AMD I've upped it to 1000 shares now instead of 850. I am banking on this bad boy! It reports earnings in mid July, I don't expect anything great since the company is pretty much rebuilding I think, but say 4-5 years I want to see this stock just BLOW UP. Oh yes another thing, I accidentally purchased 50 shares of $SWY (Safeway) which is a grocery store on the west coast of Canada and USA. Don't ask me how, but I am long Safeway 50 shares at 24.38. That a $1219 investment. (fingers crossed) I hope Safeway gives out dividends.
Back to $IBM
I love trading $IBM, its such a gentle giant. You will see right after the morning bell at 09:30 it dropped like a rock, $IBM dropped into a support area and what happens when something gets supported? Typically it gets back up or builds some upside momentum, and that is exactly what $IBM did in the first 10 minutes of trading, it dropped, hit support, got back up and then BAM it died. $IBM didn't have good friends I guess thats why its support system didn't help it go back up up up and away. And that is when I saw the opportunity, $IBM was weak, all of its support systems, friends, family and Children's Help Lines left $IBM, it was ready for another move down so that is when I shorted 75 shares at 188.79 and never looked back.
Enjoy the chart below. Oh yes, even thought $IBM didn't have a good support system in the first say 30 minutes of trading it did end up totally reversing and shooting later on during the day! Crazy! Support came a little late, but I don't care I got what I wanted.
Right Click, Open Chart in New Tab
Click on the Links below to read my previous trades
$BBRY - Needed a little more wiggle room
Another 1 - Can't believe it
Click Here to Read About Me
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