INT'L BUSINESS MACHINES (IBM-NYSE): Technical Viewpoint: From a low of $65.70 on Jul 24, 2002 prices rallied, reaching a high of $72.70 on Jul 30, 2002. A decline saw prices pull back, reaching a low of $65.85 on Aug 5, 2002. Another rally saw prices penetrate resistance, closing 8/16/02 at $79.35. Technicals: MACD-Histogram (MACD-H): A Buy Alert! was given on Aug 14, 2002 when the Histogram crossed the "0" line to the upside. Support: Remains at $75.00. Resistance: Is at $80.95. Point & Figure: Reversed to the upside on Aug 15, 2002. A P&F upside reversal takes place at $76.00. Summary: Technical indicators have turned bullish. BUY! INT'L BUSINESS MACHINES (IBM-NYSE) @ $80.13 Stop: Use a protective stop of $77.63. INT'L BUSINESS MACHINES is currently trading @ $79.35 plus $2.85 on Aug 16, 2002. Price Objective: $102.00. Risk/Reward: $2.50 VS. $21.88. Today's Risk Reward Ratio: 9:1