Home » Blog » We are going short IBM at the market, current price $146.57

We are going short IBM at the market, current price $146.57

Todd Butterfield October 4, 2017

0 Comments

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.

Categories: Model Stock Portfolio, Trade Updates

Tags: IBM

Todd Butterfield

Related Articles

Take a Rest?

Click Here For Wyckoff Wave Chart 06-27-11 Our last post ended with the Wyckoff Wave at point Y. The Wave was in an overbought position…

jim-obrien June 27, 2011

0 Comments

Wyckoff Wave Back To Resistance

The Wyckoff Wave closed the week sharply higher, on much lower volume. The Technometer is extreme overbought. We closed strongly higher Wednesday/Thursday/Friday to end the…

Todd Butterfield May 30, 2022

Wyckoff Wave Bumping Its Head On The Ice

The Wyckoff Wave closed the week only slightly higher, on low volume. We had expected the Wave to meet resistance at the previous support area,…

Todd Butterfield June 4, 2022

Wyckoff Wave Met Resistance As Expected.

The Wyckoff Wave closed the week down sharply, on low volume. For the last week and a half, the Wave had met resistance at its…

Todd Butterfield June 12, 2022

Wyckoff Wave Trying To Dig Out Still?

The Wyckoff Wave spent last week working higher, then succumbed to major selling to end the week. Volume increased some on the selloff. I was…

Todd Butterfield April 24, 2022

0 Comments

Responses

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.