Happy Hour!

General Electric (GE:NYSE) gave the market every reason to sell off hard today, missing guidance and lowering estimates going forward. In addition, they appear to have been less than forthcoming with the analysts who cover GE.

I think a real problem with GE, outside of the market turmoil everyone is in, is the NBC news division. Day's Of Our Lives and CNBC are great, but the news division has taken a hard left turn and this is no doubt turning off viewers in droves. A reported alliance with billionaire George Soros, David Brock and Paul Begala to push the leftist agenda in this political season is not welcomed activity.

GE is a heavyweight on the DOW and is responsible for much of todays volume on the downdraft. Even with the selloff, volume eased on the NASDAQ, and if you exclude GE, the same would have occurred on the DOW. Both are parked at the 50 day moving average.


Although technically a distribution day on the DOW, I discard it due to GE and proclaim the rally is still intact as market action dictates.

So, I am heading to Happy Hour. Can't make the Bulls and Bears today, so Chilis will have to do! Bottoms Up!