INT'L BUSINESS MACH (IBM-NYSE): Technical Viewpoint: From a low of $109.44 on Jun 2, 1999 prices rallied, reaching a high of $139.19 on Jul 13, 1999. A decline saw prices pull back, reaching a low of $117.56 on Aug 5, 1999. Another rally saw prices penetrate resistance, closing 8/16/99 at $127.38. Technicals: Demand Index (DI): A Buy Alert! was given on Aug 11, 1999 when the solid line crossed the dotted line to the upside. Support: Remains at $121.00. Resistance: Is at $132 1/8. Point & Figure: Reversed to the upside on Aug 13, 1999. A P&F upside reversal takes place at $123.00. Summary: Technical indicators have turned bullish. BUY! Int'l Business Mach (IBM-NYSE) @ $128 1/8 Stop: Use a protective stop of $124 7/8. Int'l Business Mach is currently trading @ $127.38 plus $4.00 on Aug 16, 1999. Price Objective: $141.00. Risk/Reward: $3 1/4 VS. $12 7/8. Today's Risk Reward Ratio: 4:1