GE MIRED BY FINANCE UNIT

http://money.cnn.com/2009/06/29/markets/thebuzz/index.htm?postversion=2009062914

"There is probably not much downside to the stock now. Investors would be making a mistake at this stage, particularly given all the negativity towards the company, to make a big bet against GE," Snyder said.

Still, some big investors appear to be fed up. According to figures from FactSet Research, Bill Miller's Legg Mason Value Trust sold its entire position in GE during the first quarter. So did other well-known funds such as the Federated Kaufmann fund and Pioneer fund.

GE will face a crucial test when it reports its second-quarter results July 17. If the worst really is over and Immelt's reset has in fact begun, investors will want to see proof of that.
Currently, analysts are skeptical. They are forecasting that total sales for GE will be down 10% from a year ago and that earnings per share will plunge 54%.

And another fund manager who still owns the stock said he's running out of patience.
"People are tired of the GE Capital unit. It would behoove the company to extricate themselves of most of it somehow," said James McGlynn, manager of the Calvert Large Cap Value fund. "GE was designed for the 1990s, not this century. The company is just too big to manage"

*Stocks set to open flat according to futures to slightly up. We still have SPX 930 as resistance and potential right shoulder. WE find the rally continue to move up on below avg volume and little investor enthusiasm....a miracle right?

IF bear markets only END when they make their final lows, and if the history of data we have suggest we have NOT started a NEW bull market and this rally is 4 months old.....I will continue to argue the ODDS for me anyway say sit tight for now, I remain IN CASH......I'm not trying to PICK a bottom, but if I have sense it isn't in I dont want to ride down to it either. I can be wrong, wish I was wrong, but dont think Im wrong.

D