IBM Q2 result were reported this week and they exceed analyst expectations from every perspective.
Their earnings guidence for the year is now up to $13.25.
More importantly, with their strong backlog their target of $20 in earning by 2015 continues to seem more and more achievable. This earning target was the primary rationale for recommending IBM in the original post this past December.
The stock is up over 25% since then. (compared to about 10% for the S&P500). The longer term story remains in play. Hence in this case there is nothing to do to manage the position but hold on and watch for awhile. If it does get to $200 in the short term, it might be getting a little ahead of itself, and CCI will consider taking some profits off the table.