General Electric (GE) Message Board

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Non-Tech : General Electric (GE)

GE 287.39

-1.1%

Nov 21 9:30 AM EST

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To: Arthur Tang who wrote (1517)	10/23/2000 10:53:49 AM
From: Gerald Walls	Read Replies (2) of 3256

I think I am safe with my statement, but you have a problem with your statement. The reason is GE has its own support and resistance level. Honeywell by the generous offer broke out of their resistance level. HON is no longer an independent stock. HON will no longer trade on its own merit so you can throw technical indicators out. Once the arbitragers decide on a stable spread the stocks will trade at a 1.055 ratio with the spread gradually declining as the buyout date approaches. HON will follow GE. A $37,000,000,000 company is not going to control the trading in a $550,000,000,000 company. This is NOT a merger of equals (as it would have been with UTX), where your statement would have more validity.

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