IBM quitely breaks to all-time highs


When a large cap Dow 30 stock suddenly breaks to all-time highs, I become interested.   I bought some IBM November call options today.   In August of 1999 IBM topped out at $138.35.   The chart below shows that after recovering from the steep bear market low of $69.50 in 2008, IBM ran up to around $134 and consolidated for about 8 months just below its all-time peak.   Well, IBM has now broken out to all-time highs! I would not be surprised by a multi-month rise from here. I believe this action bodes well for the Dow 30 index too.

Leave a Reply

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