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Non-Tech : General Electric (GE)

GE 287.39

-1.1%

3:59 PM EST

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To: Gerald Walls who wrote (1518)	10/23/2000 2:56:24 PM
From: James F. Hopkins	Read Replies (1) of 3256

GE's drop was indirectly caused by HON. The shorts who had taken HON down before this merger started, need to cover ( she had a lot of shorts on her ). Well they are in pain, and desperately ran in and shorted GE in an attempt to get out of the Hon short positions as best they can. They took advantage of a sort of low volume day to short GE.. believe me investors don't trade like some school of fish, and GE is not down today due to anything but short selling when there are not a lot of buyers present. In the longer term GE will bounce back as soon as the HON shorts can get out of the mess they got in they will start trying to cover their shorts on GE. ----------- Either stock is a good bargain today. Trying to scalp a little on an arb is silly unless your connected to level II , even there it could be risky. If you got HON hold, if you don't then buy GE.. The shorts on HON ( and now GE ) are already screwed hit em while they are in pain. Jim

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