GE update

Here is the back link to the general electric thread.  In short, my model view of GE continues to look pretty good.  Fortunately, I cost averaged into a nice position of GE Jan 2016 $13 puts over the past couple months and they partially offset my near term JNUG losses today.

The chart could be read several way including the count provided below.  I will need more data in order to figure it out and that is always the problem with trying to do wave counts in real time.  In any case, blue 3 could also be wave [1] down.  A lower low than 24.40 means both of these counts are wrong.

In any case, this chart is totally bearish into 2015.  There will of course be retracements and in fact the 2nd wave could be a deep vee retracement but GE is about to become a broken stock IMO.