Friday, October 3, 2008

GE - Buffet to the Rescue ??? Maybe - Maybe Not

It has been highly touted in the media that Warren Buffet made a substantial investment in GE, additionally the company raised an additonal $ 12 billion by selling shares in an offering today,however the stock still acts like garbage. 


With a FusionIQ technical rating of only 14 (out of a possible 100) we have to say that the market is betting GE goes lower.  Again the old principle is not what is the news but how does a stock act in the face of that news.  We would suggest still avoiding GE given its low rating.  Support does not come into play again until $ 18.00.





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