As I said yesterday, global conglomerate General Electric (GE) has risen over 250% since the market’s 2009 bottom … yet looks set to keep climbing.
Why? Well, the stock’s ascent has been quite orderly — as seen in the charts I posted yesterday. It’s been consistently posting both higher highs and higher lows, which makes it difficult for the broader market to correct its rally more than a few percent.
The even better news, though, is that other names, including AIG (AIG) and telecom DigitalGlobe (DGI), have also been climbing in similar patterns. With that in mind, their stocks seem just as immune to a large correction as GE.
Serge Berger is the head trader and investment strategist for The Steady Trader. Sign up for hisfree weekly newsletter here. As of this writing, he did not own a position in any of the aforementioned securities.