GE: No Sign Of A Low
June 19, 2008 11:11 PM
I have no idea of where the bottom is in GE here. The reversal attempt was taken out yesterday and now there is no sign of a bottom. There should be value (trap?) buyers at some point, but not certain when they will step in. I believe the issue is GE is widely regarded as a proxy for the US economy and the economy is getting worse and rapidly as I have warned for over 6 months.
Buying GE here you are guessing. I am not a fan of guessing as I have made very clear many times.
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