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GE: $21.30

June 20, 2008 11:30 PM

There should be buyers above $21.30 on GE. I know, I know, it is way below where we are, but this thing is getting crushed. I would start to look at GE around $25 if the market gets torched some more as I believe technicians will be buyers above $21.30. It is the 10 year low and a reversal low. It is getting rather sad when I have to go back 10 years to find support, but that’s where we are at on GE. Just put the number in the back of your head for future referance.

GE action should convince people to use stops. I said GE had to hold $28.38, it didn’t. Once that cleared, you should have exited the stock, and waited. Period. Do not guess. Similar to what i said on GM, that it HAD to hold $15.50. It is $13.79 now. In three days, 20% lower. Why you would want to buy GM I have no idea, but still do not ignore numbers.

Written by Tom@StockBlade.com · Filed Under GE 

Comments

3 Responses to “GE: $21.30”

  1. Tom@StockBlade.com on June 20th, 2008 11:41 pm

    Ok, Mikey says Point and Figure charts say long above $23. If Mikey looks at Point and Figure charts he probably knows what he is doing as most do not even know what those are…so I will take his word for it.

  2. mikey on June 23rd, 2008 11:27 am

    Mikey likes……………GM……………under………..$12.00

    Hmm. look at the chart for BGM !!!!!

    It appears to be breaking down. Could we be revisiting……….October ‘06 lows?

  3. mikey on June 25th, 2008 2:48 pm

    My order is in for GE @ $22.99, @ $21.31, and @ $19.99 GTC

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