International Business Machines(NYSE:IBM) is surging higher this morning to new all time highs. The stock is trading higher by $5.15 to $167.41 a share. This is a 3.00 percent increase in the technology giant today. Traders should remember that IBM stock is a major component of the Dow Jones Industrial Average(DJIA). The DJIA consists of just thirty blue chip stocks. The index also uses a price capital weighting measurement, therefore, IBM is the highest priced stock in the DJIA and will lift the index the most. The next intra-day resistance level for IBM looks to be around the $168.25 area. Traders should be very careful when trying to sell short the strongest stock in the market as it could just trade higher throughout the day.
Nicholas Santiago
InTheMoneyStocks.com
