General Electric - new position

I agree... about 75% of my trading is trend continuation style. I do by multi year bottoms in select stocks a couple times a year. Like during the energy crisis, Valeant, Endp, shorted the top in bonds, now I'm trying to buy the bottom in GE.

It's not my favorite thing to do, but I tend to nail tops and bottoms on multi year moves. Works well, you just need to be extremely patient and picky with exact entrances.
 
I read this thread over the weekend and saw GE gap up this morning. It does look "cheap" at this price (around 12.5), however the buying volume looks a bit low. Do you think "smart money" is accumulating and trying to keep low profile?

What are the mechanics of this morning's gap up?
 
entrade said:
read this thread over the weekend and saw GE gap up this morning. It does look "cheap" at this price (around 12.5), however the buying volume looks a bit low. Do you think "smart money" is accumulating and trying to keep low profile?
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The manipulation was last week. What I am hoping for is the rest of the institutional world to say "I better get in this because when this hits 20 my boss is going to say where the hell were you when it was 12 !!!!!!!!!!!!! "

Curious if it will hold, nothing is guaranteed, but in my opinion great spot to build a multi year position.
 
beerntrading said:
I thought the same thing when it was trading at $19. I fought it all the way down to $14 selling calls...lost money doing even that. The trade thesis was competent management running easily profitable arms, freed from the burden of the dividend....well...that was at $19.
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Me, too. $18. :(
I've been calling new bottoms every few weeks.... with the same thesis.
(To which I still adhere, dammit.) :thumbsup: :confused: :rolleyes: :cool: :p

:D
 
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