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Strategies & Market Trends : Classic TA Workplace

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To: yard_man who wrote (65147)	2/2/2003 7:19:28 PM
From: nspolar	Read Replies (1) of 209892

Besides long PM's, I heavily into LT puts - GE, JPM and C are my biggies at the moment. Plan to keep collecting. Poots might just be better risk/reward than gold equities. Prechter's comments, especially about GE, were music to my ears. The financials are going to fall like flies who hit a wall of DDT. GE is focked. Don't know if I mentioned it on this board but GE had to take back 64 LM 6000 turbines from Enronnie when they went BK, at roughly 15 million a crack. In normal times this would be well over a year's worth of production. It would appear that there was other equipment involved as well, all I assume purchased to be packaged into peakers. And, of course everyone was going to make gobs of loot. In short, GE's money maker, power systems group, is headed into the toilet for a long time imo. And then we have GE Capital, huge pension liabilities and .... and I expect to see GE at 10 again. I don't think many of us comprehend how bad the situation may in actuality really be. Prechter obviously does. JMHO.

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