NYSE:IBM   INTERNATIONAL BUS MACH CORP
Look at this BS, declining revenue and it still goes up.

In any case, I'm not shorting it here just because MSFT is reporting tonight. they always beat which means the Dow will gap up and take IBM with it. Don't really need to open a short position on a Friday, I think I'll reassess this on Monday.

Overbought with huge divergence.
Comment: Remember folks, IBM trades with Dow futures, wait for the pumptardedness to subside before shorting. Looks to me that it'll hit my target tomorrow or Monday, but I'm not shorting anything until next Tuesday.
Comment: LOL, hit my target. Looks like it's melting up on a short squeeze, never play a crowded game.
Trade active: Bought 7/26 $150 puts, small position. SHort squeeze appears to be over.
Comment: This will gap in the direction of Dow futures Monday. At this point I'm expecting a gap down, and a reversal Monday afternoon. If it gaps up, this will probably form a H&S and go down anyways.

In any case, I plan to exit the trade either Monday or Tuesday.
Trade closed manually: Just waffling around...

Out with a small profit, gonna look at other stuff.
I shorted with $144 7/26 puts. They were too cheap to pass on. I think we get a rug pull down a few points. (Think about it, fed came out today in support of rate cut talk again. That puts the Momos back into play and anything relative to safety as well. IBM fits neither story line.
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hungry_hippo StockPickingEnthusiast
@StockPickingEnthusiast, Dow futures up 125 points already. IBM will get a pump from futures because it's a component, that's why I didn't short anything today with MSFT reporting.

Dow futures gapped up after the one hour break, so it's bound to close that next week probably. All signs point to a 2 or 3 day rally.... with ahead fake bear trap pattern tomorrow after it gaps up.
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