For the record GE last went Ex-Div on Dec 21, so that should not be a problem until somewhere after mid March. I love to short stocks. One significant exit signal I keep my eye on is if a positive candle closes above the 5 day SMA, and is confirmed the next day. Bob
1st today was the day to cover in my opinion..Good trading by the way, but the move has been made...Unless the market breaks down GE will not fall through 35 and would be a strong buy at 34.50 if it got there in the coming months..(Yes it will take that long to get there)...$36 was the previous resistance which it hit back in early October and mid November on its slow climb with the market.....I just don't think this is the stock to be short with all the other crap out there up +50% since july....Ask yourself what is the catalyst to drive GE down in a market that is still slowly topping out....Hot money will look for a safe place to hide if the sh!t hits the fan and GE would be one of my first thoughts on where to hide....I'm not saying it's going higher, but I am saying the move was made and it's a wash at this point if your short.....Pick up in Volume late today and it wasn't sell side....Money flow poured in the last hour..... Just my opinion.... $COSTAverageMAN
imo, this is not the time to cover. it looks substantially weak from where i am sitting. could be any day, but not today.
You are trying to squeeze the last dime out, and you will get squeezed out. I would have covered on Tuesday. Why short a stock above the 200MA, while there is so much other shit out there?
i dont need the capital anywhere else right now and im comfortable with this position. i hear what all of you are saying - im sure i will take a profit, just not yet. ill post when i cover.