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Technology Stocks : IBM -- Ignore unavailable to you. Want to Upgrade?

To: j g cordes who wrote (3335)	6/19/1998 8:18:00 AM
From: Greg R	Respond to of 8218

<< post when and in which direction you would trade>> - I'll try. IBM is being followed currently because I shorted it big time and it is nearing the point where I will close those out. The $125 puts will expire today regardless, But the July $120's were purchased with the plan of selling on Tuesday. That was the plan then. What I am doing is watching how IBM follows its projected path and how the DOW follows its projected path. Given the DOW's past habit of going to the extremes of the INPATHIQUE pattern, there had been a chance it would crash and burn to the extremes ending to-day at 8400. Given the bounce earlier this week, it appears it will probably reach a normal intraday low of perhaps 8475 on Tuesday. As mentioned earlier, I will be plotting and fine tuning my own projections every hour or two as we near the end. I watch the DOW closely whenever I am into IBM as the two should normally complement each other and it gives me a double check that I am not overlooking something. Neither the DOW nor IBM "have" to get as low as I am expecting. They could take a more shallow path (Being greedy, I hope they do not) What I am confident in is that the DOW will be RISING through 8775 on July 7. The path through that point on the INPATHIQUE chart is highly predictable. The instant the DOW hits that path, be it late today, Tuesday, or heaven forbid, July 7, I will be conclude that is the best low I can get for "this first leg of the bear run" IBM is a similar situation except that its projected path is so straight down, it is difficult to make an advance projection that I am happy with. However, you asked so, if I assume the plot IS accurate, I am expecting IBM to be RISING through $102 on June 26. I hope to peg the actual low at something slightly better than that (perhaps $100 intraday on Tuesday) The trade I will be doing is a sale of the put options. I will NOT be assuming any kind of a long position until at least July 20. My reminder system is set to have me revisit IBM at that time. If the price is down around $97 or $98, I would assume a short term long position at that time. I'll let you know then. I assume this is what you were looking for. I try to day or short term trade with INPATHIQUE. If you are interested in more of a trade and hold strategy, check out INPATHIQUE's public examples page. They normally have several trades listed there that are made in advance and then held to see how they do. Some of those charts may be of interest to you as well: home.istar.ca

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