GE had a great week jumping from a low of under $6 to bumping it's head at $10. It now has negative divergence on it's 60 min. RSI and is at the top of the downward trend line. If it opens up tomorrow I think it will be a chance to fade the open and play it from the short side. If it is able to break to a new rally high then that would be a signal to get the heck out of the short. I think the odds are greater of it having a pull back.
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http://jackschartpatterns.blogspot.com/2009/03/i-think-ges-run-is-about-over.html?showComment=1237250820000#c5214146491463363586'> March 16, 2009 at 7:47 PM
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http://jackschartpatterns.blogspot.com/2009/03/i-think-ges-run-is-about-over.html?showComment=1237251000000#c6057348794088076081'> March 16, 2009 at 7:50 PM
GE presented an excellent shorting opportunity today. I think there is more downside coming. An initial stop should be placed just above today's high....as I said, if it extends it's rally to a new high the short should be closed.