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Non-Tech : Kirk's Market Thoughts

COHR 154.52

-3.0%

Nov 7 9:30 AM EST

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To: rdkflorida2 who wrote (4963)

9/9/2017 9:03:19 AM

From: Fintas

Read Replies (2) of 26439

GE. Are we there yet? This will be a bit long as usual and that's because I am not about the just buy or just sell but try to explain.

It's RSI closed at .632. And if you are watching closely you will notice ANOTHER O was put in this chart from the other I presented in which I suggested there was STILL a chance of 5-7% down. That's still in play!

I'll digress a bit because in truth I continue to see 50-60 for GE longer term. Yes to get there it has to move to the strings I discuss often. Using 19.44 24.30/29.16/34.02/38.88/43.74 or to make it easy 29.16 x 2= 58.32. Now are ya day trading GE or are you investing?

If one is investing and owns it off the lows do they really care about a retrace off the 33.03. NAH.. IF they can see UP.. they can see DOWN. The DOWN offers the opportunity to write deep in the money. I notice some yakking about the increased volume in calls.. NAH. TOO early for calls. IMO

BUT let GE drop that extra bit. Let the pros work hard to get it close to where it wooshed in AUG 2015 and if one wants CALLS then that is the time. Just be reasonable with the STRIKE.

If one wants the stock.. BUYING at 25 or 20 is no biggee for the 50-60 or the 29 which is as plain as day. Just to keep it real. I have a cost basis of GE at 9.11. AFTER I bought it within days it plunged to 5.86 ish amidst the cat calls of many. Was I concerned? NO. I took calls and contacted all I knew to say load up. Whether off the 6 to 33 or 9 to 33 GE did very well! I'm also on record I lightened up when GE did NOT take out the 34.02 and I'm waiting to re enter for stock and yup calls.

So whether one buys in tenths buy in pieces or takes a full bite. Don't let those who were not smart enough to tell ya to buy GE off it's lows now tell ya GE is a dog. The JPM etc have agenda as many did back in 2009.

GE is nearing a screaming BUY. NOT YET but again if one is an investor and accepts the 50-60 who cares?

The DIVI cut was a ruse.

This chart suggests ONE MORE O. Worst case 2 and one can PLOT that % down to then use to consider price or use whatever tool one is comfortable. ME? I use both % of RSI and then compare to my strings while glancing at FIB retracements..

OH if ya have written covered calls from way up. Might be a good time to close them if ya haven't done so already. Cause GE can pop to 25 in a heart beat. Until I continue to watch for 24.30-1.62-1.62?

Fintas

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