The chart makes me nervous. http://stockcharts.com/h-sc/ui?s=IBM&p=W&b=5&g=0&id=p32884067857 Ive seen this before where it goes way above the line forming a tower formation. Notice the volume at the bottom that appears to be decreasing. There are two ways it can go from here: 1. It will form a building like formation on the chart. The top of the building has now formed. Then it will start slowly slipping away, downwards, until the next conference call. The next conference call contains bad news. IBM then will fall in very short time. or 2. The stock slowly slips back until the next conference call. The conference call contains good news. The stock then rockets upwards straight into the 100s, 120-130. This will be the next leg up to a head and shoulders formation. The next step would be the next conference call which will have to contain super spectacular news, but they never do to justify the high price. The price then crashes from there to the next leg in the head/shoulders. After the price crashes, there is a dead cat bounce and then down towards the original leg. In any event, I predict this will be back to 75 bucks in 6-9 months of time.
Well, IBM is about to get to 100! I Bought Cray @ 11.68 then dropped to 10 and i bought some more @ 10.60. It's been moving straight up. Today CRAY had another jump.
it was, you did say it was going to 100, I jumped on at $99.82 sold already though, was a little late to the party....