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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (38298)	4/8/2001 2:09:28 PM
From: Jerry Olson	Read Replies (2) of 50167

Hi Ike... GE...from my view on P&F... it topped out at 60 bucks Aug 2000..it has rolled over from there and has given several consecutive sell signals all the way down to 37.. the key sell signal was last Oct at 53, a triple bottom breakdown...if the investing public...knew something about TA instead of FA only..they would have sold the stock right then and there..saving 15 agonizing lost points...and at the very least a stop gain would have been prudent as well, since the chart clearly showed 2 lower bottoms before the trigger short... and it may not be done with the down side just yet...it has hard resistance at 42 a double top...39 reverses it down again, to test the recent lows...43 is a nice breakout double top if it can do it...it's now trading below the BSL(bullish support line) at the moment... interesting long term chart...because it verified where the market was going from last fall...even when i saw a short term bottom in NOV, and we had that nice rally up..it could not break the down trend line and reversed down and continued to fall... with several bellweathers at critical chart junctures, i think people should be cautious and prudent with their long term horizon right here and now...here's the chart...of GE. stockcharts.com i have some very interesting charts with indexs showing strength and weakness...i'll post them here later...

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