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Non-Tech : General Electric (GE)
GE 311.99+1.5%Nov 10 3:59 PM EST
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To: JakeStraw who wrote (2918)10/30/2018 3:43:07 PM
From: Underexposed  Read Replies (1) of 3256
 
Dropping the dividend to $0.01/quarter will cause all those that purchased the stock for its dividend to abandon ship and sell. $0.0033/ month is not attractive to those retirees who buy dividend stocks for income.

If you want to easily find such opportunities I might suggest following Rarebird in his thread "The Philosophical Porch". He has a suite of stocks that have great dividends and most have decent capital gains, though with today's downturn you might have to look at most of them with a critical eye.... however he monitors them closely and advises when he gets in/out.

The Philsophical Porch

Those that remain in this stock are shorters, I suppose or those that are searching for the bottom for this stock and make a killing on a rebound...or so they think.

The big problem is finding that bottom. Some have touted in the past buying at $20/share, then at $15.00/shares and then loading up their truck at $10.00. I wonder if that truck loading will take place now.... It is quite a gamble IMHO.



As you can see, there is no obvious support levels now. I am very surprised at the current fall to the current level but I should have taken into account the earnings report that came out today and the notice of the drop in dividend.

That low in 2009 was $6.68.... that should be a reasonable support... investors remember that price and date. So for me that is the next support... somewhere around $6.50ish

If it falls below that level, who knows where the bottom will be? Mr. Culp has a big job on his hands...hope he is up to it.

UE
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