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Author Topic: GE is a ‘classic falling knife,’ says technician  (Read 1328 times)

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Offline thackney

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GE is a ‘classic falling knife,’ says technician
« on: January 23, 2018, 01:26:29 pm »
GE is a ‘classic falling knife,’ says technician
https://www.cnbc.com/2018/01/23/ge-is-a-classic-falling-knife-says-technician.html
1/23/2017

As the broader markets make new highs, General Electric can't get out of its own way. And according to one chart watcher, investors should expect more pain for the oldest component of the Dow.

GE share prices are down 8 percent in January and on track for the 11th-straight month in the red.

"This is a classic falling knife, and we recommend staying away," Ari Wald, head of technical analysis at Oppenheimer, told CNBC's "Trading Nation" on Monday. "It comes down to a very basic formula for us: Bearish trend equals bearish outlook."

GE's recent sell-offs have only confirmed what Wald and Oppenheimer have sensed for some time. Oppenheimer has kept a sell rating on GE shares since February, and GE's share price has nearly halved in that time.

This year's losses add to a 45 percent decline in 2017, its worst annual performance since 2008. The stock is the worst performer on the Dow this year and is one of only four components to trade negative for the year...
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Offline endicom

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #1 on: January 23, 2018, 02:07:02 pm »
The average P/E for the S&P 500 is lower than I'd thought. Makes me feel better about the booming stock market.
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Online corbe

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #2 on: January 24, 2018, 07:11:15 pm »
The decline and fall of General Electric, the poster child of Obamanomics

by Timothy P. Carney | Jan 23, 2018

Sometimes we look back a decade or so and reconsider our word choice. For instance, I used to call General Electric — with its heavy lobbying, its intimate ties to the White House, all its bets on green energy, on embryonic stem cells, on Obamacare, on industrial policy — the “for-profit arm of the Obama administration.”

Those words were ill-chosen. Specifically, in describing GE, it was a mistake to use the word “profit.”

No company has spent as much on U.S. lobbying since 2000 as General Electric. And no component of the Dow Jones Industrial Average has performed worse since 2000 than General Electric.

The company’s stock is tanking. Its profit margins range from sclerotic to negative. Its recent big bets on Europe and green energy are proving to be duds. GE has already sold off its appliance business and is trying to find a buyer for its light bulb business.

<..snip..>

http://www.washingtonexaminer.com/the-decline-and-fall-of-general-electric-the-poster-child-of-obamanomics/article/2646900
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Offline thackney

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #3 on: January 24, 2018, 07:17:51 pm »
Quote from: corbe on January 24, 2018, 07:11:15 pm
all its bets on green energy

That is funny.  Others are criticizing GE for ignoring "clean energy" and doubling down on fossil fuels.

GE has a fossil fuels problem
http://money.cnn.com/2017/12/15/investing/general-electric-fossil-fuels-renewables-coal/index.html

GE's fossil fuels disaster gets uglier
http://money.cnn.com/2018/01/24/investing/ge-earnings-stock-power-fossil-fuels/index.html

GE cuts 12,000 jobs in response to falling demand for fossil fuel energy
https://qz.com/1150061/ge-cuts-12000-jobs-from-its-power-division-as-fossil-fuel-energy-demand-drops/
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Offline driftdiver

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #4 on: January 24, 2018, 07:22:06 pm »
I'm sure it has nothing to do with the jack Welch school of mismanagement that set the stage for the current state.
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Offline thackney

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #5 on: January 24, 2018, 07:26:19 pm »
Quote from: driftdiver on January 24, 2018, 07:22:06 pm
I'm sure it has nothing to do with the jack Welch school of mismanagement that set the stage for the current state.

...Not only does GE have the largest pension deficit among S&P 500 companies, that deficit is $11 billion worse than the next closest company, according to Dow Jones S&P Indices. (The $31 billion figure is from the end of 2016. Fresher numbers haven't been released.)...

...GE's pension shortfall is even more glaring when you consider that the company was sitting on a pension surplus of $14.6 billion in 2001, when Immelt replaced Jack Welch as CEO....

http://www.kitv.com/story/37294272/ges-31-billion-pension-nightmare
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Offline WingNot

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #6 on: January 24, 2018, 07:41:39 pm »
Quote from: thackney on January 24, 2018, 07:26:19 pm
...Not only does GE have the largest pension deficit among S&P 500 companies, that deficit is $11 billion worse than the next closest company, according to Dow Jones S&P Indices. (The $31 billion figure is from the end of 2016. Fresher numbers haven't been released.)...

...GE's pension shortfall is even more glaring when you consider that the company was sitting on a pension surplus of $14.6 billion in 2001, when Immelt replaced Jack Welch as CEO....

http://www.kitv.com/story/37294272/ges-31-billion-pension-nightmare

Jeffery <REMOVED BY a Cocksucking MOD> Immelt
« Last Edit: January 28, 2018, 12:11:45 am by Wingnut »
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Offline Slip18

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #7 on: January 26, 2018, 02:25:16 am »
Quote from: corbe on January 24, 2018, 07:11:15 pm
The decline and fall of General Electric, the poster child of Obamanomics

by Timothy P. Carney | Jan 23, 2018

Sometimes we look back a decade or so and reconsider our word choice. For instance, I used to call General Electric — with its heavy lobbying, its intimate ties to the White House, all its bets on green energy, on embryonic stem cells, on Obamacare, on industrial policy — the “for-profit arm of the Obama administration.”

Those words were ill-chosen. Specifically, in describing GE, it was a mistake to use the word “profit.”

No company has spent as much on U.S. lobbying since 2000 as General Electric. And no component of the Dow Jones Industrial Average has performed worse since 2000 than General Electric.

The company’s stock is tanking. Its profit margins range from sclerotic to negative. Its recent big bets on Europe and green energy are proving to be duds. GE has already sold off its appliance business and is trying to find a buyer for its light bulb business.

<..snip..>

http://www.washingtonexaminer.com/the-decline-and-fall-of-general-electric-the-poster-child-of-obamanomics/article/2646900

Good one, Corbe!

My dear old dad told me in the 70s to never buy a GE product.  He was an engineer.  I never did.  And now I am glad I took his advice.  But I failed to ask, "Why?"
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Offline Joe Wooten

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #8 on: January 27, 2018, 11:52:01 pm »
Quote from: Slip18 on January 26, 2018, 02:25:16 am
Good one, Corbe!

My dear old dad told me in the 70s to never buy a GE product.  He was an engineer.  I never did.  And now I am glad I took his advice.  But I failed to ask, "Why?"

They used to make the absolute best steam turbine/generator sets in the world and their gas turbines are still the best now, but the rest of the company has fallen behind. GE used to also have the best private research labs in the world 20 years ago too....
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Offline Frank Cannon

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #9 on: January 27, 2018, 11:59:45 pm »
Quote from: driftdiver on January 24, 2018, 07:22:06 pm
I'm sure it has nothing to do with the jack Welch school of mismanagement that set the stage for the current state.

Welch had the place running fine. It's Immelt with his spare jet following him on trips and focusing on bad ideas that killed GE.
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Offline Frank Cannon

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Re: GE is a ‘classic falling knife,’ says technician
« Reply #10 on: January 28, 2018, 12:06:34 am »
Quote from: thackney on January 24, 2018, 07:17:51 pm
That is funny.  Others are criticizing GE for ignoring "clean energy" and doubling down on fossil fuels.

GE has a fossil fuels problem
http://money.cnn.com/2017/12/15/investing/general-electric-fossil-fuels-renewables-coal/index.html

GE's fossil fuels disaster gets uglier
http://money.cnn.com/2018/01/24/investing/ge-earnings-stock-power-fossil-fuels/index.html

GE cuts 12,000 jobs in response to falling demand for fossil fuel energy
https://qz.com/1150061/ge-cuts-12000-jobs-from-its-power-division-as-fossil-fuel-energy-demand-drops/

You posted the same stupid story written three different times by the usual Leftist clowns. The reason that these backwards countries like Germany can go all in on solar and wind power plants is because they buy expensive electricity from neighboring countries that haven't been dumb enough to enact these unreliable electricity sources.

https://www.statista.com/statistics/276114/german-electricity-imports-from-europe-by-country/
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