Protect profits on short GE position.

Todd Butterfield Blog 0 Comments

GE has continued to collapse following our overbought Technometer on 10/20/17.  We are going to lower our buy stop on GE to yesterdays high which is $20.72.  We feel that we are nearing a selling climax, so any sharp selloff the next couple days we would cover our short.  Otherwise use a buy stop at $20.72 in case it begins to rally from here.

Our original short is from $28.91 on June 19th.  So we have managed to take a large profit on this short position while the Wyckoff Wave has experienced further gains.

Good Trading,

Todd Butterfield

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