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Sunday, July 22, 2012

trades... GS, IBM, JPM and QCOM

GS - Looks interesting here. Sitting on support, and deeply discounting negativity (of just about every kitchen sink argument a bear can throw at a financial.)

I would rather not see it break down to 90, as I already own it here. But looking to add between 90 - 93.

IBM - Looking to add around 190. It may push to 187ish but its already approaching its low end trailing multiple range.

JPM - Similar to GS, except with the London Whale hoopla. Although, JPM is yielding at 3.5-3.6%, and on Friday reports surfaced Dimon swapped out of the preferred and bought $17M worth of common. That says something about the common. Looking to add between 33-34.


QCOM - I wanted to simplify the SMA lay-out for QCOM, but all are relevant one way or another.

IMO, the hard-core support is around low/mid 56 via the 32 SMA as it has acted as support and resistance multiple times. This is where I will add to my current position. (Although an argument can be made that QCOM can consolidate at current levels or bounce off of the 50SMA. And pending the level of consolidation I may enter near the 50SMA.)

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