$IBM Setting Up For a Move

$IBM looks to be setting up for a sharp move that I will try to profit via an out of the money options trade.  I think this move will occur in the coming weeks.

$IBM is putting in a nice bear flag.  In this stock market bearish patterns seem to have less validity, but I feel pretty confident about making this trade.

I think when all is said and done $IBM will be under $150 before finding a meaningful bottom.

$IBM $157.50 December monthly puts $.76


Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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