Warren Buffett says,,,be fearful when others are greedy and be greedy when others are Fearful!!! With a stock like GEs RSI hits 30 it's oversold. GE traded as low as 12.80 earlier in the week. Which took its RSI down to 28.9. in the next day or so if I feel the selling is over, I m gonna start buying. But I never dive in..GE has only cut the dividend twice since the great depression. In 2009, and a few mths ago to .12 cents a quarter from .24. it is reinvented itself moving away from alot of the old products and business models. It has cut its board down and getting rid of alot its corporate head count, 25% in the next yr or two. Having worked for a another corporation for 37 yrs. I can tell you that's where all corporation cuts should be made. Everybody in HO has two secretaries etc etc.etc. and it's BS. While others cut the grunts in the trenches. This is a good move. They've already established a committee to study their own spending. Any successful corporation that's been around this long knows, you have to change with the times. CLF is finally starting to do that with the new HB plant. But it will take an increase in ore price to help it along. A hold on GE from 12.81 til this time next year, will give me with divendends reinvested at least a 60 % return. I know it. I m also keeping my base of CLF which is 8000 shares and buying 6000 at what I believe to be lows and trading it with 40 cent or more increases. If ore stays below 70.00. will trade some GE too.
STOCKDEVIL HAS SPOKEN!!!
