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techcharter

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techcharter

Re: chris3403 post# 27889

Thursday, 08/16/2007 10:29:12 PM

Thursday, August 16, 2007 10:29:12 PM

Post# of 51818
GE - Wave count

Using Elliott waves I get a different forecast for GE. The July hig to end of month low is Wave 1. Wave 2 expanding flat ended around Aug 9. Since then there have been a cascade of waves 1-2, 1-2 of 3. GE and the rest of the market are set to drop sharply as wave 3-3-3 unfolds. Downside target for GE next week is $3 lower.

Headline prediction: GE has subprime/Alt-A/ ARMs in its portfolio.

Maybe I'll buy some puts at the open.
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