If we can clear this area, it's katy bar the door cause the path to 6850 will be wide open. But if we fail, we'll need to chill for a back test of the February highs.
Pay attention to a market that trades like this after a perceived major bearish event, staying short in this situation is a great way to get prolapsed by the market
Whenever someone mentions $IBM, I still think of large, clunky computers from the 1980s.
That may be unfair. But perception matters.
IBM has modernized its portfolio faster than it has modernized its identity.
The stock fell 25%. The brand may be the real problem. My latest for Forbes Chart by @Barchart https://t.co/Uz6dhLl7pN
Whenever someone mentions $IBM, I still picture a beige computer the size of a filing cabinet from 1987.
That is a serious branding problem for a company trying to sell the future.
Products can change faster than perceptions.
The stock is heading lower again today.
Now that SpaceX is back at its IPO price, I’m writing a follow-up to this piece: when does the risk finally become the opportunity?
Read the original below and follow me on @Barchart to get the next one. $SPCX https://t.co/BGLwWUpMnp
And markets don't only misprice bad companies.
They misprice:
ignored companies
companies in transition
assets stuck with the wrong shareholder base
businesses that don't fit today's narrative