Big Blew It

By -

It’s a strange world we live in that has a company like Facebook as a steady, consistent, rock-solid performer whereas International Business Machines has become the unreliable, flaky stock that likes to make huge price gaps based on earnings surprises. But that’s the truth. The big drop IBM took last October took nine months to heal (see arrows). That healing is for naught, because the moment the opening bell rings, IBM is going to be down at Greek crisis lows, and I suspect a new direction will be in force for the stock.