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To: yard_man who wrote (56062)1/10/2001 10:03:27 AM
From: AllansAlias  Respond to of 436258
 
Trust me? LOL. What you know we don't? -g

As you know, I remain neutral on this mess aside from some BK insurance, but I am very open to the possibility of sideways/up for weeks to come, possibly months. Getting a breakdown of GE of this importance (and chances are probably slightly better than even that it bounces from here) would signal a rapid deterioration.

Of course it won't fall in a straight line, but, just as the break of CSCO down over its very LT trend telegraphed weakness and volatility, one could reasonably expect the same from this behemoth.

These lines rarely fall on the first attempt, sometimes it plays around the line for a number of bars, but it is worth noting that GE already probed below this line last week. After the Fed-panic moonshot one might expect some sort of consolidation, but this thing has retraced below that day -- that's not consolidation, that's weakness, albeit on declining volume.

I have no position in GE, partly because it is GE and the mufu power makes me skittish. Just watching it with keen interest.