The red arrow is GE's closing lows, the white is the new intraday low, this looks like a probable breakdown in GE. Personally, if I liked the short, I'd use the brief strength we are seeing as the market catches a slight bid to short into strength.
Monday, March 14, 2011
GE Designed the Japanese Reactors-Possible Short Trade.
Furthermore, there are 23 sister reactors in the US. Again, another company that has a chart that can't be helped by the news.
Here's the positive divergence intraday today, it's inline with the market in general. It looks like it may have some further upside so if you like the short trade, you may want to phase into the trade a little at a time, up to 50%, then add the rest on a new closing low which may come today.
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