iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
18,854 Blog Posts

JP Morgan Upgrades $GE — Merry Fucking Xmas

This is a very, very significant upgrade. Steve Tusa from JPM has been bearish on GE since $30. He nailed the downside in the stock and has now upgraded it. Enough of the negativity. It is time to purchase shares of GE, barreling fat and greasy into the Xmas season.

“We are upgrading GE to Neutral and removing it from the Analyst Focus List as a short idea as we now see a more event-driven, balanced risk reward at current levels,” Tusa reasoned. “Key to the story, in our view, is the outcome of the “known unknowns” in near term, which are better understood and around which the debate is more balanced, as opposed to being overlooked by most bulls in the past.”

The stock is surging in pre-market, which should bode well for bond holders and the fucktards worrying about high yield. Separately, I bought some GE in the pre-market at $7.50.

Let the squeeze begin.

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5 comments

  1. dragun

    Corp finance deals forthcoming? /sarc

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  2. numbersgame

    How’s that GE chart looking so far?
    Looks to me like it wants to go to $7.10- $7.15. After that we’ll see the real battle.

    Aslo, to be clear, I meant that GE rising is a **requirement** for a market bottom, not an indicator that the bottom is in:
    – GE goes down, market hasn’t formed anear-term bottom
    – GE rises, market *might* be near-term bottoming

    I’ve switched some of my NFLX exposure to AMZN, as the stock looks weaker on the charts and all the Smart Money is selling it like crazy (see block trades) while the Dumb Money (Total-Block) is neutral:
    http://www.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow-20181212.html
    http://www.wsj.com/mdc/public/page/2_3022-mflppg-moneyflow-20181210.html

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  3. nocigar

    He says “neutral” but his $6 PT says “sell”.

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  4. irma vep

    Wow! I already have mine sir, But please could I have some more! I still say it will drop back big time before it and the rest of the market normalizes. So don’t get too excited. Can dance through the clover in the meantime but watch out for the bees in 2019.

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  5. bronze28

    Fly, you said you bought GE pre-market at $7.50 but you forgot about the 50 cent gap which it has now filled. will see what next week brings. And yes, the analyst was right on the way down but that does not necessarily mean he has it right on the way up. Time will tell I guess.

    and what about that major credit risk that hangs around their necks?

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