Thursday, December 23, 2010

GE for longs

The annotated chart below is a daily chart, and the reason I am sticking to that is, with GE, you really need to take one step at a time. GE has lots of technical hurdles ahead of it on the long term charts, with lots of supply from 22 to over 40 dollars. After such a smashing, it would be nice to see GE put in V bottom, but that opportunity has passed, and the daily holds the key as to whether GE can start to put in a steady climb, or if it is destined to the purgatory of years of basing action. I cannot even fathom taking a fundamental investing approach with this company/country. Its a dragon obscured by steam and smoke, thought by some to be dying from debt, but it may not be dead, only sleeping. Price is the only truth in the market.

So, the short message for GE is it needs to get quickly to and through 22 and start to work on the 22 to 40 area. The daily below will show what it needs to do to get there. Click on it to read...

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