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Non-Tech : General Electric (GE)

GE 287.96

+0.3%

11:06 AM EST

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To: jackhach who wrote (867)	5/22/1999 10:42:00 AM
From: jackhach	Read Replies (1) of 3256

FWIIW > STRONG BUY -- GE ($104.125) will be selling at $120.00 within 60/90 days. It'll be bringing the Dow along with it. Although, I do not own it -- I use GE to track the direction of the Dow. It is a very accurate method for determining the general direction of the markets. We know it has a 95%+ Dow correlation. 60%+ of average GE basis ownership is now situated in a very tight range of $86.57 and $90.97. The stock normally short-term peaks at around 25% above the midpoint of this prevailing range (this basis changes subtly daily.) Therefore, based on the current range -- we see a top at around $122.00. A weaker overall market might return only $118.00, whereas a very strong market will bring it to $126.00. The current bottom is $99.87. If GE closes below this point -- we are probably in big trouble, but it is not likely the stock will trade below $101.25. Look for a lot of side-trading (accumulation with ever-increasing volume) between $101.25 and $107.00 till it breaks through $107.00 and finally onto the $122.00 target. An easy signal of a positive confirm would be for us to get a 7+ million share volume day above $101.00. -JH

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