GE, which announced plans last month to sell $200 billion in GE Capital finance assets, now expects to be largely done with the process by 2016 instead of finishing in 2017, Chief Executive Jeff Immelt told the Electrical Products Group investor conference on Wednesday.
GE estimated selling about $100 billion of the assets this year, up from its earlier target of $90 billion, with deals for $20 billion to $30 billion targeted by the end of the second quarter.
Have you seen the "bad" news about GE that started a day or two ago? This is part of the plan that "smart money" uses to try to get dumb money to dump shares. Smart money is not dumping, as they dump when the news couldn't be any better and dumb money is chasing the stock.
You will never win at this game if you believe that fundamentals determine price. Price is controlled by "smart money". Smart Money accumulates shares when the price is deemed low in their opinion. Once they have accumulated "enough" shares you will start to see "good news" surrounding this stock. Smart money starts to bring the share prices up to get the attention of other investors. Over time, which could be days, weeks, months, or even years, smart money will start a rapid climb in price which brings in dumb money (retail investors) who do not want to be left behind. This continues until the price quickly reaches a peak. This is where smart money starts unloading. Look at a 3 year chart of GE and look at all the "mountains". This is called Dow Theory. You can track the movements using charts and Wyckoff schematics. GE is now at a midpoint of a rise that began 9 April.
The chart from 10 April to today is an exact duplicate of the chart from 2 March to 9 April. What causes this? Algo's, like "Stealth", "Iceberg", "Dagger", "Guerrilla", "Sniper", "BASOR" and "Sniffer". Dark overlords of the marketplace playing games. If you know them then you have a chance.
Bulkowski said - The move from the flag low to the trend end is 23% and takes 19 days, which just happend yesterday.
but there could be one final short attack. They are cornered and thus unpredictable.
A consortium of shorts attacked dumping millions of shares at the bid in an effort to drastically drop the price, so that they could cover at a profit. It was obvious and I saw it coming minutes before it happened, but they miserably failed. They did it again right at closing.