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Mullooly Asset Management

Fiduciary Fee-Only Financial Planner | Investment Advisor in Wall, NJ

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IBM Technical Outlook October 2014

October 20, 2014 by Thomas Mullooly

In this week’s Mullooly Asset Management video, Tom takes a look at the point and figure chart of IBM. IBM reported subpar earnings this morning (October 20, 2014) and also reported paying one of their competitors to take a division off their hands. Not great news. IBM is a large component of the Dow Jones Industrial Average, and its negative earnings news has put a damper on the index so far today (as of 1 pm).

As Tom mentions in the video, we get all of our point and figure charts from Dorsey Wright and Associates. If you’re interested in learning about point and figure we highly recommend you visit their website: http://www.dorseywright.com

Watch the video for an in-depth analysis from Tom. The point to take away is that before this morning’s earnings new, IBM was already in a negative trend. When stocks are in negative trends, bad things tend to happen. In addition to being in a negative trend, IBM’s chart is a sell signal. It’s displayed poor peer and market relative strength as well.

Point and figure charts help us to stack the odds in our favor when we invest. We typically look for investments in positive trends, on buy signals, that display peer and market relative strength. Is this a perfect strategy? No, but it helps us stack the odds in our favor.

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Filed Under: Videos, Stock Market Comments Tagged With: Dow Jones, point and figure, stock market, stocks

About Thomas Mullooly

Thomas Mullooly is owner and founder of Mullooly Asset Management, Inc. In 2002 Tom opened Mullooly Asset Management, a fee-only investment advisory firm. As an investment advisor, and not a broker, Tom works strictly for his clients. With the help of point and figure charting, Tom builds a realistic game plan for clients.

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The information on this website and blog do not involve the rendering of personalized investment advice. A professional advisor should be consulted before implementing any of the options presented. None of the content contained in this website should be construed as legal or tax advice. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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