Accounting practices changing, Federal inquiries. Need I say more? If you have cash that you don't know what to do with, by all means have fun. I see this one as a trader, not an owner short term. Long term, well lets see some signs of stability!
GE has been downgraded, and some have put a target of $14.00, not a good sign. waiting.....for some good news.
Kick the dog! But after that, whats next...oh ya, a market pull back! Take that! Ok you win ...dog of the DOW, but one tough dog! All we need is leadership, lets see it.
1/20/18 - back to the dog house! GE has some serious financial decisions ahead of them.
Last 10 days the stock has seen more buyers than sellers. Accumulation vs Distribution is showing more distribution. (selling)
Volatility is at a 365 day high. Shows it could go back down.
MACD positive, volume + color is positive.
Even the charts are confused on this one! In the last 60 days we have seen a low of $17.25, and a high of $19.25. I'm splitting the middle, going for $18.25, and buying 1/2 my position. Resistance looks to be $19.50, once it breaks that, we will by 2nd 1/2 of the position. Another words, if we see a decent weakness in the coming week, we will be buying. Very long play.
1/6/2018 I had to take it out of the dog house. We realize if we want to own this one long term, for better or worse, the price may never be this low. (who knows? right?) I'm hoping they don't sell Baker Hughes right as oil is turning around. A double whammy, bought Baker Hughes at the highs, and turn around and sell it near lows. *cough*
Seen a nightly news cast the other night here. It showed a couple of workers suing the co. (Baker Hughes) for damages. They had brain damage from working around dangerous gases that weren't vented correctly. The facility they were working in, looked like crap.
The thing about the oil industry, you spend a lot, to make a lot. Maybe a turnaround in management for Baker Hughes, and better working relationships, and working conditions could improve this one! Company Men, do talk and word gets around. My 2 cents. Make it profitable, sell high! I can see Haliburton wanting this one, just to compete against Schlumberger/Anadrill. Partnership? Let somebody who knows the oilfield run this one!
Dec. 28th 2017 - stock is still ticking down.
So much wrong with this stock, class action lawsuit, bad accounting, and a dividend cut! A company that paid "zero" taxes last year on $14 billion in profits. What will tax reform mean to the new management that just took over? Whats this company worth?
As of Dec. 13th the stock has leveled out, but still trending downward, slowly!