Thursday, May 26, 2011

IBM - A Quick Glance


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)
the May 17 bar (purple hi-light) was particularly interesting as it gapped down thru the channel only to be 'stick saved' for a few more days. Yes readers in spite of all this the Wall St. banks can have ZERO losing trading days. Yes fundamental and technical analysis truly does work, doesn't it Raj et al.

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".


Open Positions:
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

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