Some musings on IBM posted on @seeitmarket

enjoy .. this one has been very interesting to watch.

http://www.seeitmarket.com/ibm-stock-update-is-a-breakout-underway-14295/

follow the link above:

  • note the PATTERN held … again, we know nothing about the fundamentals of IBM. Just numbers …
  • note the .618 retrace of the relative strength held .. in the minds of the traders, they shifted to IBM outperforming at the EXACT .618 retrace
  • note the BIG GAP that it hit today and fell … it’s going to be tough to overcome a 7 dollar gap but time will tell.

enjoy and let me know if you have any questions.

Bart

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