INT'L BUSINESS MACHINES (IBM-NYSE): Technical Viewpoint: From a low of $66.10 on Jun 26, 2002 prices rallied, reaching a high of $73.90 on Jul 5, 2002. A decline saw prices pull back, reaching a low of $66.60 on Jul 15, 2002. Another rally saw prices penetrate resistance, closing 7/18/02 at $72.05. Technicals: Momentum Index (MTM): A Buy Alert! was given on Jul 11, 2002 when the solid line crossed the dotted line to the upside. Support: Remains at $67.25. Resistance: Is at $77.75. Point & Figure: Reversed to the upside on Jul 16, 2002. A P&F upside reversal takes place at $71.00. Summary: Technical indicators have turned bullish. BUY! Int'l Business Machines (IBM-NYSE) @ $74.25 Stop: Use a protective stop of $71.50. Int'l Business Machines is currently trading @ $72.05 plus $1.36 on Jul 18, 2002. Price Objective: $97.00. Risk/Reward: $2.75 VS. $22.75. Today's Risk Reward Ratio: 8:1