We are going short IBM at the market, current price $146.57
IBM is trading much weaker than the Wyckoff Wave, and appears ready to probe the downside once again in its long downtrend. The Wyckoff Wave is now extremely overbought with today’s rally and we think a good time to enter shorts in IBM.
We are going short at the market, with a buy stop at $149.03
Following is the 3 month chart, showing the OP and Force lagging the price to the upside.
We also attached the 3 year chart showing its poor performance as well.