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GE Cleared $28.38 Not Good

June 19, 2008 12:14 AM

GE cleared the attempt at a reversal. I am not sure how low it will go now, but “lower before higher” should be a near certainty. The problem was the market was in trouble today, as i warned last night and it has to clear $29.25 to be long, IMO. The risk/reward trade, as I see things, was to be long GE above $28.38 and see if it would hold. It didn’t, such is lfe. Once it cleared, you should have exited, limit the loss, and move on.

Market’s are not about certainty, but rather probability and knowing your risk and reward. GE should be a buy - at some point, because of the dividend. But I would not count on that to be a savior long term because rates may continue to climb and eliminate that play. Once again, we wait.

Written by Tom@StockBlade.com · Filed Under GE 

Comments

2 Responses to “GE Cleared $28.38 Not Good”

  1. Scott on June 19th, 2008 6:23 pm

    GE is currently at a 5 year low. Best I can tell is Dec 03 was the last time GE was in the 27 range

  2. mikey on June 20th, 2008 5:33 pm

    Point&Figure charts indicating a low of………….$23.00

    That would take the yield > 5%

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