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Non-Tech : General Electric (GE)
GE 298.45+0.6%Nov 28 9:30 AM EST
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To: Arthur Tang who wrote (1436)9/26/2000 6:36:49 AM
From: Arthur Tang  Read Replies (1) of 3256
 
It is interesting to look at the volume and price charts for the past 6 month? SI has blue and red volume to show net balance favoring buy or sell respectively.

What it shows is a lag(delay) of moves(price offers electronically) by the specialist(tick or gap, up or down) or the large brokerage bull pans(Quotron or Nasdaq last trade adjusted by volume) and online market makers(bid and ask as well as size offers). The delay in moves could be one day late. If several days the net balance is favoring buy side, the price moves up nicely. If each day alternates, the price just levels out. Currently, it just so happens that net balance alternates. As it(price) levels out, we may see an opportunity for it to breakout, since support is met time and again(double bottom).

Long term support is at $47 and resistance is at $60.5. Short term support is at $55 and resistance is the same $60.5. So it looks favorable, barring any unforeseen negative news, or some large investor creates large shorts.

Footnote: The large investor problem in the past has been controlled by the specialist using time purchase(or layaway in retail) as a method. Specialist should always constantly get in touch with the large brokerages to hear the rumbles under ground first, so to speak.
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