Hi Bond,
I can see that there is "someone" with an endless stream of shares is selling. I note a few things about this: First, the seller is not in a hurry and is trying hard to not drive the price down. We know this because as the volume has been drying up, the asking price isn't driving down the bid. Second, a tight channel is being formed from the action of this seller. The seller is letting the stock breath only a little before smacking the ask. This action has tightened up in the last trading day. I expect that a new channel will be made today (likely lower). I am fully aware that GE prints shares for cash and I think he is at the root of this selling (if that isn't painfully obvious to everyone). If and when the seller backs off, the stock pps has been rising. To me, this rise in price is due to the fact that this stock is trading at a discount relative to assets. This also should be no surprise since nobody trusts GE to protect the interests of the shareholders. I am included in that group.
FYI: I am worried about another dilution event. Friday will be interesting to be sure. With respect to share price, I'm not thinking we will see below $1.00 unless we have another RS. I also think that a RS won't be announced until after the shareholder meeting. Why I am buying the stock? Because GE has cash and as it stands right now is not in need of another RS. Even if he goes out to generate more cash, he would need to justify his direction in the shareholder meeting. So, I don't expect a RS to be announced until after this event.
Good luck all!
