Authored by Lance Roberts via RealInvestmentAdvice.com,
This past week, the Dow crested 23000 sending the networks into a “tizzy.” It took about 5-minutes of crossing that magical “round number,” before questions raised of how long before the markets cross 24,000, and 25,000.
Always...
Having tumbled 10% in the pre-open after massively missing earnings expectations and slashing guidance, panic-dip-buyers have stepped in and (thanks in large part to passive index buyers flooding into The Dow), General Electric is now green...
"Kitchen sink" is the new no-brainer... as CEO call sit "horrible and unacceptable"
Dow-buyers helping out (and it looks like some Dow vs GE pairs hit at the open)...
It seems Dow at 1000x the price of GE remains solid resistance...
While it may not have slashed its dividend, yet, General Electric shares plunged 5% in the pre-market after the company cut its 2017 profit forecast while its new CEO grapples with one of the deepest slumps in the iconic US manufacturer’s history. The company reported that adjusted earnings this year are expected to be only $1.05 to $1.10 per share, down over 30% from a previous range of $1.60 to $1.70 a share. This is also sharply lower than the sellside consensus of $1.54 a share.
pic.twitter.com/g4EjXXJofL
— StockCats (@StockCats) October 19, 2017
"Saved..."