thxs Dan,
enjoyed your comments. i will post a chart up tonight and we can discuss further..
ibm is in consolidation mode right now.. that's for sure.
however, this consolidation mode is a positive since im getting readings of "bottoming" signals,where things are moving to bullish areas for my signals..
ibm is still weak and i would not be surprised that it will dip down again.. but this dip down is a simple retest of support and perhaps a real break to upside..
right now, there is a lot of noise and a lot of confusion with the jaggedy consolidation..
as always, i wait for confirmed rally, and then i enter. yeah, i miss my first couple points, but at least rally is confirmed...
also any negative (or positive) news can easily move this stock. earnings warnings perhaps?
but if you look at hwp's results of earnings (which wasn't that rosy), hwp still managed to hold (and even gained 2% the next day)..
what it shows is that the mkt has factored the asian flu as "yeah, so what?"..
on a contrarian view, it's when everyone says "yeah, so what" that makes me worried. people are too complacent. people dont worry.
when real BAD news comes, then mkt will overreact to the downside.
just my thoughts.. more of a wait n' see right now.. but we will know in 1-2 weeks.. |
