Replies to post #27889 on Short Term Trading Member Forum

[techcharter]

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.

[chris3403]

GE putting in new daily highs even as I speak
rtq=38.49 up $1.28
gl/gt
chris