International Business Machines (IBM) … too much of a good thing. IBM is up twice as much as the market the past 12 months (and, per chance, twice as much as the S & P 500 Technology Sector and the NASDAQ 100 Index). The stock is trading in an increasingly steep and uncorrected uptrend and far above its 150-day moving average. So far above, in fact (25% above) it is at present further away from its 150-day moving average than at any time in the past 20 years. At this point, the idea is to take measures, before – as the expression goes – somebody does it for you. Trim, sell calls, do something. And those engaged in the business of short selling, IBM is judged to be a good candidate. -Carter Braxton Worth For actionable recommendations via email and live nightly videos become a member at worthcharting.com DISCLOSURES: (None) All opinions expressed by the CNBC Pro contributors are solely their opinions and do not reflect the opinions of CNBC, NBC UNIVERSAL, their parent company or affiliates, and may have been previously disseminated by them on television, radio, internet or another medium. THE ABOVE CONTENT IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY . THIS CONTENT IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND DOES NOT CONSITUTE FINANCIAL, INVESTMENT, TAX OR LEGAL ADVICE OR A RECOMMENDATION TO BUY ANY SECURITY OR OTHER FINANCIAL ASSET. THE CONTENT IS GENERAL IN NATURE AND DOES NOT REFLECT ANY INDIVIDUAL’S UNIQUE PERSONAL CIRCUMSTANCES. THE ABOVE CONTENT MIGHT NOT BE SUITABLE FOR YOUR PARTICULAR CIRCUMSTANCES. BEFORE MAKING ANY FINANCIAL DECISIONS, YOU SHOULD STRONGLY CONSIDER SEEKING ADVICE FROM YOUR OWN FINANCIAL OR INVESTMENT ADVISOR. Click here for the full disclaimer.
Trending
- Robinhood (HOOD) sees surge in Bitcoin (BTC), Gold prediction markets as traders move beyond sports
- Trump Official Britt McHenry Caught On Video Appearing To Throw Beer At Fan During NBA Game
- A Garage Cleanout That Actually Gets Finished
- ADHD Medication Could Slash Death Risk, Huge Study Finds
- Moz & Profound Partner to Connect SEO and AI Visibility
- Agent cloud startup Daytona hits $1B valuation backed by FirstMark and a who’s who of angels
- Why Facial Recognition Won’t Replace MagicBands at Disney World
- Bernie Sanders Trolls Trump’s New Anti-Fraud Program With A Damning Tip Of His Own
