Buzz & Banter
JP Morgan and Merrill are out this morning trimming estimates on General Electric (GE:NYSE). As fitting for a general, it was back in March that GE was among the individual leaders of this rally, having delivered its first buy signal on a point and figure basis since April of 2001.
With strong resistance overhead at 32, the upside here looks limited, trimmed estimates or not. On the downside watch 27, that would be the first sell signal since January.
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