joining us now is trader tim biggam of trading block. tim, you have been waiting for the market to come down and for some individual stocks to come down so you can swoop in and do some buying. let's start with ibm. > >fall to say the least. this stock had a big drop in post earnings. missed certainly on the revenue side although guidance was reaffirmed so i think longer term may be an overdone situation. shorter term---i like scooping up some around here around that 175 level. i think given the fact that you're looking at a yield well above 3% now and the lowest ibm has traded in many a year and the fact that guidance is still in place going forward i think it will trudge along here nice value play. > >what would be your price target for selling the stock? > >we really looking to head back up toward that 195-200 level, i would certainly take some off the table there. that would be a nice move from these levels here and along the way collect a dividend that's well over 3% now. > >what about some of the banks? > >dislike those for the same

tim biggam of trading block is taking a closer look at tesla for this morning. tim, all of a sudden this stock is completely out of favor. the short are loving it. what would be your play here? > >i would still be short even though the stock's come in about 10% here. this stock is still way above what i deem to be a valuation i would find attractive. so, until the stock heads back down toward even that $60 level i would be a short here going forward. i think this thing has a lot more room to fall from here. > >so how far down? at what level would you buy tesla stock? > >probably right around that $60 level using a fundamental approach. obviously this highlights fundamentals versus momentum or having something to base it on versus beliefs. i look for the stock to have a lot of air about 110 points lower than here is where i would be interested. > >and that is an interesting stock story because for so long people were building up the stock. did it become a momentum play of sorts? > >yeah, you just take a look at the charts, look at the valuation. once the thing sta