IBM, Telecom iShares

March 9, 2006 10:32am by

FYI:  I picked up some IBM this morning, and I am looking at the iShares telecom IYZ.

This does not mean I have converted to Buddhism or am moving to the other coast, or getting a divorce — or changing my view as to the rest of the year being pretty ugly. It only means that some issues have some interesting charts that might be worth a quick trade . . .

 

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Watch $82 as a potential breakout for IBM
Ibm_3906

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disclosure:  long IBM, looking at iShares US Telecomm (IYZ)

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  1. Barry Ritholtz commented on Mar 9

    To clarify — just watching IYZ — I don’t own it, I probably won’t, and this is not a buy rec.

    For the record, we don’t make buy recs here . . .

  2. Abobtrader commented on Mar 9

    The chart of Intel may also be interesting for patient investors.

  3. TraderPod commented on Mar 9

    Check out the most recent interview with Barry on RadioEconomics !

  4. Jonathan commented on Mar 9

    Yeah, I’m anticipating IBM to break out too…today saw promise early on, then crumbled but my sell point will be earlier than 79.50..

    any calming words?

  6. Jonathan commented on Mar 10

    maybe for a short(breakdown)..def. not a break out stock though…very true dan

  7. todd commented on Mar 10

    anyone else in for the big “short covering on a Friday” trade tomorrow? ANF could be good for a few % gain, especially if the jobs report is positive. If anyone here has a large sack, homebuilder shorts might be covering for profits tomorrow too….

    CTX, perhaps? That’s my “if CNBC says your stock sucks, get ready for a monster short squeeze in 1-2 days” play. I covered that short yesterday. :)

    I hate to say it, but IBM looks like a good short entry point… Pull out a three year chart and it just looks too unhealthy to me.

  8. Jonathan commented on Mar 10

    ah, todd, i don’t want to hear that about shorting ibm, it held with support for awhile today then just moved with the market. I’m really unsure how the jobs report will affect it…any ideas?

  9. Ned commented on Mar 10

    I will watch IBM with interest. When I look at the chart I see 50-day as resistance here. I don’t see a long trade at all, but always willing to try and learn.
    Good luck Barry.

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