Wednesday, March 04, 2009
Could today's action mark what candlestick chartists call a hammer bottom on GE? GE traded at $5.73 intraday, closed at $6.69 on tremendous volume of approx 750 million shares. GE trading at this level would be an unfathomable occurrence less than a year ago. But by today's standards of imploding stock prices by America's formerly large companies, its just another day at the office! Only time will tell if today marked the end of the liquidation phase of this brutal bear market.