On another note,xTrends pointed to GE as being a great upcoming short play. Look at the long term chart below, daily on left and weekly on right.
First on the daily to the left, we have increasing price and decreasing volume since the climb from the bottom. Stochastic is making a bearish crossover in the upper half (would have been nice if it's higher). And every time it does that in the past year, GE goes sliding down. Volume weighted MACD is also showing a negative divergence. GE is stalling above \$10 but its V-MACD is higher than previously in the \$10 zone.
As for the weekly chart on the right, it's obvious GE is in a major downtrend. And so is everything else. However, compared to the S&P 500 it is certainly lagging on this recent rally in the past month or so. That is certainly a sign of weakness.
Update: I like it enough that I've entered a strangle order for GE around \$10-11. It's going to pop one way or the other.
[caption id="attachment_1133" align="aligncenter" width="500" caption="General Electric"][/caption]