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Stock of the Day: International Business Machines (IBM)

Adam Mesh discusses why he is looking at IBM to possibly short as it has shown continued weakness in a strong market

 

When the market finally decides to take a downturn you should always have a list of stocks to watch that did not go up during this rally.

Weak stocks in a strong market will likely continue to show weakness once the rally ends.

Keeping a detailed list of these stocks can help you later identify when is a good time to buy or can become a list of profitable shorts to have your eye on.

In the video from today, Adam discusses that he is looking at IBM as a weak stock that has shown continued weakness in a strong market.

The company hit lows in March and appears to fit the criteria of a stock that can go even lower if the market pulls back.

Watch Adam Mesh’s Stock of the Day Video

As always, keep an eye on earnings dates, IBM is set to release earnings on July 20th 2020.

You want to steer clear of holding a stock into their earnings announcement.

 

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IBM shares were trading at $117.14 per share on Wednesday afternoon, down $0.44 (-0.37%). Year-to-date, IBM has declined -10.51%, versus a -1.39% rise in the benchmark S&P 500 index during the same period.



About the Author: Adam Mesh

Adam Mesh started his career as a day trader in the 90's as electronic trading revolutionized the markets. After executives at the firm recognized his unique ability to breakdown and translate what's happening in the market, he quickly moved through the ranks gaining national attention. Mesh has been recognized by Fortune Magazine for an uncanny streak of successful trading and has appeared on every major financial media outlet. Mesh believes that the key to stock market success is to keep the strategies simple enough so that they can be repeated. "Consistency and Discipline" are always found at the base of every great success story. Adam can be reached via email at adam@adammesh.com.

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