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GE Hits That Magic Number

Monday, 14 Sep 2009 | 3:17 PM ET

Stocks rally midday as our parent company General Electric spikes over $15 for first time since January. This is an important breakout, and volume spiked IMMEDIATELY as it hit $15.

Also, the Volatility Index (VIX) has been sinking all afternoon, now at the lowest levels since mid-July, so something is likely going on regarding options hedging.

Now watch for other breakouts: for example, IBM is just below the $120 level. If it breaks above that, expect a similar volume and price move higher.

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  Price   Change %Change
GE
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IBM
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  • A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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