INT'L BUSINESS MACHINES (IBM-NYSE): Technical Viewpoint: From a low of $83.24 on Sep 23, 2004 prices rallied, reaching a high of $88.10 on Oct 6, 2004. A decline saw prices pull back, reaching a low of $84.29 on Oct 18, 2004. Another rally saw prices penetrate resistance, closing 10/27/04 at $90.00. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Oct 1, 2004 when the Histogram crossed the "0" line to the upside. Support: Remains at $86.75. Resistance: Is at $91.00. Point & Figure: Reversed to the upside on Oct 22, 2004. A P&F upside reversal takes place at $87.00. Summary: Technical indicators have turned bullish. BUY! INT'L BUSINESS MACHINES (IBM-NYSE) @ $90.38 Stop: Use a protective stop of $87.63. INT'L BUSINESS MACHINES is currently trading @ $90.00 plus $1.00 on Oct 27, 2004. Price Objective: $101.50. Risk/Reward: $2.75 VS. $11.12. Today's Risk Reward Ratio: 4:1