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Thursday, January 14, 2010

Trade - PWR, IBM and GS

1. PWR - looks really interesting here for an initial/re-entry position. I re-entered, and will wait to see if the stoch (the tech oscillator) continues to show consolidation. If it does, I will enter another position at that point.

2. IBM - I made an internal decision with myself. I will not sell IBM until it reaches a trailing PE of 20. With their current line of businesses, and what I anticipate to be quicker revenue growth, I think we will see that. Wall Street just needs a few quarters of convincing before they give the stock that level of respect. (Its funny. Many people know I trade very well, and do very well and have given some really profitable information, but when I tell them about IBM they look at me as if they have seen a ghost. Everyone still thinks it is a dinosaur tech company, and have written it off. They do not realise just how cutting edge it really is.)

3. GS - I am itching to purchase those calls, but I want to be disciplined as I already own the stock. Think right now is a great initial entry position (as I already own the common), and if it tracks to the low 160s I will buy call options.

(will provide charts later in the day)

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