GE No Floor in Sight

Trade Timeframe - 12/10 - Jan 04

GE 01/04 $6.00 PUT dip buy $0.06 ($0.15)
IV 71.58% Volume 99 Open Interest 202

Regarding the dip buy - There is opportunity to get this option at a discount due to mid-day movement and slight optimism as we saw nov 28 - dec 3, but then the option fell back into profit PUT levels. Idea is to "set it and forget it" for the dip buy. $6.45 is the next realistic floor. News also is negative in general.

MACD - Already crested north in the last several days, and is now on the verge to move south
EFI - Momentum has shifted dramatically, and its movement is turning south, showing pessimism
RSI - Although this is an oversold stock, there is nothing in the near future to hold up the RSI
EMA - There is nothing that shows a reversal, and resulting Volume is consistently in "Sell" mode

*Let's see what happens!*

*DISCLAIMER* - I am not a professional trader or stock broker. These are merely my thoughts typed out. If you need professional help with your trades, look elsewhere, not here. Good luck and happy trading.
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