...I actually had a close relative that owned GE double down at those lows. I watched it very closely for them at the time of purchase and now it is gone (sold on this rally) with limited damage to his account.
My advice with bbotcs was as it's stated...
."Just be careful and don't let this position get away from you. Who knows where this may bottom?"
... No way did I say he was wrong for buying GE there. I was a skeptical buyer myself through my father. IN RETROSPECT the trade worked out(I do not consider GE an investment at this point right now) but at the time my advice was good....
Totally twisting my intentions there Dick....I KNEW IT COULD(?) BE A BOTTOM AT THAT TIME....but watch it carefully as It could also have been destroyed in the credit crunch if it progressed(?)!
GE is still a POS that does not deserve it's high credit rating but it was ripe for an entry on the long side with "eagle eye close stop loss" at the time I commented on it to bbotcs.
I'm doing fine financially Dick....how about you??
Do I sense signs of impending financial distress on your part??