IBM Message Board - Msg: 4993070

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Technology Stocks : IBM

IBM 305.82

-0.9%

Dec 1 3:59 PM EST

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To: j g cordes who wrote (3335)	6/24/1998 10:35:00 AM
From: Greg R	Read Replies (1) of 8218

<<post every trade>> Yesterday IBM went to an area on the INPATHIQUE chart where it was virtually guaranteed to bounce back down. By monitoring during the day, I was able to pick the exact point to sell, but unfortunately, I still paid $8.75 for my July $120 puts. If you are watching the charts I provided the URL for, you may recognize the point I am referring to. It went above the angled purple lines (called trans-set lines). When a stock goes above those, it reaches increasing resistance and will retreat back under them at the earliest opportunity. The real key however was the black dotted ghost Center-line Indicator. The stock was virtually guaranteed to sharply drop back down if it touched it. Which of course it did. The combination of the two events triggered a sell condition for me. Unfortunately, I could not advise you as I was at my retreat where I do not have Internet access. Just a phone to my broker. Greg

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