Protect profits on short GE position.
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.