General Electric Co. (GE)

Index:

S&P 100

$ 159.29
   
  • Change Today:
    $3.41
  • 52 Week High: $180.12
  • 52 Week Low: $103.78
  • Currency: US Dollars
  • Shares Issued: 1,088.42m
  • Volume: 1,374,007
  • Market Cap: $173,374m
  • RiskGrade: 177

BofA-ML strategists still 'sellers'

By Alexander Bueso

Date: Thursday 22 Nov 2018

LONDON (ShareCast) - (Sharecast News) - Strategists at Bank of America-Merrill Lynch continue to be "sellers" in shares, arguing that US central bank policy tightening cycles "always" end with a "financial event", although markets may perhaps attempt a bounce over the coming week.
In a research report sent to clients, the strategists said that there was a "price keeping operation" under way in the US stockmarket "via manipulation of & pressure on oil/US dollar/Fed to ease financial conditions."

Describing the current unwinding in the technology space and credit markets as "vicious", BofA-ML pointed out how being 'long' volatility was now the "consensus" call.

Together with speeches from the Federal Reserve's chairman and vice-president ahead over the coming week, alongside the G-20 summit in Buenos Aires, the investment bank said markets might try and "bounce" with the S&P 500 attempting to claw its way back towards 2,750.

Nonetheless, a peak in volatility and a trough in returns would require a "capitulation" by the US monetary authority, driven by a "financial event" and recession fears.

Triggers for a possible "big" policy panic were still forming, they said, including a drop in the S&P 500 Spider ETF below $250, a fall in the ISM survey's subindex of new orders below 50 points, a "credit event" at General Electric and contagion or capitulation by either China's central bank or the US President.

Such events might lead to a capitulation by the Fed over the next one to three months, they said.

"We see no positioning or policy capitulation yet; institutional positioning not bearish enough to signal Big Low."



Email this article to a friend

or share it with one of these popular networks:


Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

General Electric Market Data

Currency US Dollars
Share Price $ 159.29
Change Today $ 3.41
% Change 2.19 %
52 Week High $180.12
52 Week Low $103.78
Volume 1,374,007
Shares Issued 1,088.42m
Market Cap $173,374m
RiskGrade 177

What The Brokers Say

Strong Buy 7
Buy 7
Neutral 3
Sell 0
Strong Sell 0
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Trades for 17-Jun-2024

Time Volume / Share Price
10:15 200 @ $159.29
10:15 750 @ $159.29
10:15 100 @ $159.28
10:15 100 @ $159.25
10:15 100 @ $159.25

Top of Page