The current down-trend is quite lazy. The Russell 2000 and NDX have dropped only 7-8% over past two months and the SPX and DJI dropped even less. It is difficult to expect some strong decline at such low volatility. With such mood it could take another 1-2 months to reach 1330 level. Unless something comes around... I think it is going to be quite difficult for IBM to break its July's support.
The current down-trend is quite lazy. The Russell 2000 and NDX have dropped only 7-8% over past two months and the SPX and DJI dropped even less. It is difficult to expect some strong decline at such low volatility. With such mood it could take another 1-2 months to reach 1330 level. Unless something comes around... I think it is going to be quite difficult for IBM to break its July's support.
You were right, the market is down, yet it is not president's election but Europe.
IBM is still behind the S&P 500 in its decline. It is still far to the July's support. Lets see how the current panic selling develops and then we will go from there.
You were right, the market is down, yet it is not president's election but Europe.
IBM is still behind the S&P 500 in its decline. It is still far to the July's support. Lets see how the current panic selling develops and then we will go from there.
I don't say the market is sharply down b/c of the election, just simply dropping after that
IBM if can't get supported at 182, it will drop down to 160. I also wait for what is going on at this point..Then, decide to buy cover or still hold short position. Beside, AAPL, XOM, KO & DIS is still in my short sell portfolio
Swing trader should buy to cover IBM and will continue short selling by next week after IBM temporarily bounce back. I think the market is still in BEAR trend
