FYI:  I picked up some IBM this morning, and I am looking at the iShares telecom IYZ.

This does not mean I have converted to Buddhism or am moving to the other coast, or getting a divorce — or changing my view as to the rest of the year being pretty ugly. It only means that some issues have some interesting charts that might be worth a quick trade . . .


Watch $82 as a potential breakout for IBM


disclosure:  long IBM, looking at iShares US Telecomm (IYZ)

Category: Trading

Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.

9 Responses to “IBM, Telecom iShares”

  1. To clarify — just watching IYZ — I don’t own it, I probably won’t, and this is not a buy rec.

    For the record, we don’t make buy recs here . . .

  2. Abobtrader says:

    The chart of Intel may also be interesting for patient investors.

  3. TraderPod says:

    Check out the most recent interview with Barry on RadioEconomics !

  4. Jonathan says:

    Yeah, I’m anticipating IBM to break out too…today saw promise early on, then crumbled but my sell point will be earlier than 79.50..

    any calming words?

  5. dan says:

    INTC sees 18 before it sees 22, my friend.

    you call this –

    a good chart? Ha!

  6. Jonathan says:

    maybe for a short(breakdown)..def. not a break out stock though…very true dan

  7. todd says:

    anyone else in for the big “short covering on a Friday” trade tomorrow? ANF could be good for a few % gain, especially if the jobs report is positive. If anyone here has a large sack, homebuilder shorts might be covering for profits tomorrow too….

    CTX, perhaps? That’s my “if CNBC says your stock sucks, get ready for a monster short squeeze in 1-2 days” play. I covered that short yesterday. :)

    I hate to say it, but IBM looks like a good short entry point… Pull out a three year chart and it just looks too unhealthy to me.

  8. Jonathan says:

    ah, todd, i don’t want to hear that about shorting ibm, it held with support for awhile today then just moved with the market. I’m really unsure how the jobs report will affect it…any ideas?

  9. Ned says:

    I will watch IBM with interest. When I look at the chart I see 50-day as resistance here. I don’t see a long trade at all, but always willing to try and learn.
    Good luck Barry.