SPDR S&P 500 (SPY)

[Fox13]

I cannot get away from the GE story. The Talking Heads of CNBC are massaging their mama company: It’s not GE, and their pile of idiotically accumulated radioactive guano.…No, no, no, it’s a series a world events and the inherent financial turmoil. As if this were not disgusting enough, the guest-pundits of the network, who get exposure and clients for “being there” go the same way. They defend GE for NOT pre-announcing and lying consistently about their great international presence which, in the context of a weak US$, should have brought in huge profits…Interestingly, Siemens (their European equivalent, even more corrupt, but technically more advanced) had already pre-announced and got a major and well-deserved haircut. The writing was on the wall …but not on the foggy crystal balls of the fat cats.

However, 32.5 is a major support for GE. Then …a stop at 29.02 and finally a warm and honest support at 26.26.

Latest News: Merrill Lynch is defending GE…How nice!!