Monday, October 11, 2010

$IBM finishes at an all time high

Here's a message I tweeted on Twitter back in September about Big Blue:

'Jim Kingsland

I remain bullish on $IBM. A friend who works there is as grim as ever about staff and other cuts. $140 is an easy call by Christmas.

By Christmas? It's taken far less time for it to rise about $10 since I mentioned it. IBM finished at 139.66 today.

Now the stock is extremely overbought. Consolidation time at the very least. Watch out for a pullback if the overall market heads south.

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