Is anyone looking at GE
lately to see that it is rocketing higher? In the past, GE
used to correlate almost perfectly with the overall stock market but since it imploded, eliminated its dividend, was rescued by the US Gov't (yes, they backed hundreds of billions of their debt with the full guarantee of the US Gov't) and while all leveraged companies delevered, I stopped looking at GE
as a key barometer. But now that I am looking at GE
again here, it seems that there are some interesting observations about the way GE
shares seem to LEAD the SPY
. See if you can see the divergences for yourself first, then view the chart that I publish later. Note how GE
is rocketing now. Cheers to everyone. By: Technical TIm, 3:31PM EST, Friday, December 23, 2011. PS - This is a potential "pairs trade"