The chart of IBM, perennial institutional fund parking valet favourite, caught my eye today. Not that charts or analysis could ever compare to expert networks, co-locators, frontrunning, and BTFD (buy the f#$%ing dip)
When caught my eye in particular was:
- the high tick of 166.97 (green hi-light)
- low tick of 166.75 (orange hi-light)
- and the low tick of 166.53 (purple hi-light)
That said, we appear to have broken through here today, although another 'stick save' by da boyz, cannot be ruled out I am still comfortable punting 1 unit short of IBM here at $166.39.
Good speculating to you all and please remember to never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Direxion Large Cap 3X Bear ticker BGZ @ $96.70
Long 2 units Direxion Small Cap 3X Bear ticker TZA @ $60.30
Long 1 unit Direxion Emerging Mkts 3X Bear ticker EDZ @ $60.50
Long 2 units Direxion Financial 3X Bear ticker FAZ @ $98.25
Long 2 units Ultrashort Xinhua China ticker FXP @ $42.45
Long 1 unit Ultrashort Real Estate ticker SRS @ $49.10
Long 2 units Direxion Tech 3X Bear ticker TYP @ $52.60
Short 1 unit Int'al Business Machines ticker IBM @ $166.29 stop @ $167.81