Saturday, March 22, 2008

Update on GE. I'm half right

In my last entry I went over a trade I made on GE. I said the stock would reach a target price of 38.25 by the 15th of March. Well, I was wrong. On the date at least. GE shot almost straight up this week and looks like it will reach that target soon. Look at Fig 1.

Fig.1

The stock shot straight up starting on the 17th of March, Monday. I hit my stop on the 17th for my 5% profit and was very happy. Since, then I have heard from the TV experts to buy GE including my favorite, Jim Cramer. I alway feel good when I call it right. With the market the way it is these days, it has been hard to find a stock that is headed the right way for me.

If the experts are right about the market then we have hit the bottom and happy days are here again. We will see. Just bought Pepsico(PEP) last week. We'll see how that trade is going on my next entry.