The General's Daughter
Where's my Snoop?
The General Electric (GE:NYSE) conference call has begun and they've snipped full year EPS estimates to a range of $1.55-$1.61 (previous estimate was a range of ($1.55-$1.70). The street was expecting the top end of the range to be lowered but this is slightly below the whispers I heard. I'm not involved in the name (at present) but I wanted to keep ya up. As it stands, the stock is trading 20 cents lower in pre-market trade.
Away from that, Europe is stronger this morning and the stateside futes are hangin' tough. The first area of upside resistance is S&P 994 and that can be used as a tight stop for the active Minyans among you. Keep in mind that next week's triple-E (earnings, Elmer, expiry) will color today's action and remember to trade within your means.
I've gotta hop and jump back on the call. Good luck today...and play like an Orangeman!
Todd Harrison is the founder and Chief Executive Officer of Minyanville. Prior to his current role, Mr. Harrison was President and head trader at a $400 million dollar New York-based hedge fund. Todd welcomes your comments and/or feedback at firstname.lastname@example.org.
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