INT'L BUSINESS MACHINES (IBM-NYSE): Technical Viewpoint: From a low of $54.01 on Oct 10, 2003 prices rallied, reaching a high of $89.46 on Dec 2, 2003. A decline saw prices pull back, reaching a low of $75.60 on Dec 30, 2003. Another rally saw prices penetrate resistance, closing 1/7/03 at $86.00. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Jan 7, 2003 when the Histogram crossed the "0" line to the upside. Support: Remains at $77.50. Resistance: Is at $89.46. Point & Figure: Reversed to the upside on Jan 3, 2003. A P&F upside reversal takes place at $81.25. Summary: Technical indicators have turned bullish. BUY! INT'L BUSINESS MACHINES (IBM-NYSE) @ $86.25 Stop: Use a protective stop of $83.50. INT'L BUSINESS MACHINES is currently trading @ $86.00 plus $2.41 on Jan 7, 2003. Price Objective: $97.00. Risk/Reward: $2.75 VS. $10.75. Today's Risk Reward Ratio: 4:1