Due to the slamming that GE took this week I was wondering what you guys think about this stock. Would one consider trading this stock and why?
GE, interesting... I would sell a bucket load short at around $33.00 & expect it to fall to $25.00... I am sure we will see a short term pop to the upside tho & see it trade back up to $40.00's
I've traded about 1/4 million shares of ge in the past 2 days. Most of the time I did it in lots of 10-25k a pop. I think I made about 7-10k net on this stock (though paid about 2k in commish). This isn't my type of stock so I'm sure someone else on this board would be able to comment better on it. PROS: Liquidity is unreal. You can move 10k in seconds on island. He takes size and doesn't flinch. There were a few times that it was bid say .62, and I wanted out. He'd take 20k at .6 flat. Then he'd wait til he had sold exactly 20k at .63 and then drop the bid to .5. He's not afraid of size at all. Market orders will almost always split the spread, and the spread is only about 3c anyway. Finally, he's quite predictable now after watching him for 3 days. I usually only trade him on Fed decisions, but he's fun at times when bored. Cons: The intraday moves suck. He likes to usually dick it around in a 2 pt range max. It's pretty thick. Those institutions are all over in this name. It doesn't really get jiggy ever. Popular- this is the main problem. There are hundreds of daytraders and other experienced funds involved. If you see it, lots of others see it too. When you try to do something on island, there's immediately some tool who's .001 better than you. I usually avoid crowded stocks like this.
sh*t preat you really have a hard on for this thread...you really had a lot to unload. Do you feel better now?
Huh, what are you trying to say? I thought I gave decent advice as to the pros and cons of trading this particular stock, and the real live examples from my trading last week should be able to demonstrate what I mean. I do think that it slowly trades down below 30 at some point in the near future.
Are you saying that GE _MAY_ go to 25, or it _MAY_ go to 40 from here? Well, how did you come up with such a tight range for the biggest market cap stock on the planet? Oh, and I will be waiting on the other side of your "bucket load" at 27.5 (that would be about a $60,000,000,000 haircut on the value of GE from its current level,) either in options or on a bid. nitro