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General Electric (NYSE:GE) reported earnings Friday (see conference call transcript). The stock is now up to $39.50. That's about 14% since I started buying GE back in March.

What am I doing now? I'm still holding General Electric. Would I add to my position at this price? I don't own as much GE as I'd like, but I'll wait to add to my position a bit. If I didn't have any GE in my portfolio at all, YOU BET I'd have to add to my position.

I think GE gets it. They get that they can make money by making products that will solve some of the planet's problems. They have behaved very badly in the past (I'm talking about you GE Plastics and the Turbine Coolant PCBs) but going forward they are looking a little better. Beside, I'd love to own shares just so I can vote at the shareholder meeting.

And that stock buyback they announced today? Here's a link to a list of recently announced buybacks at TheStreet.com. You might also notice Neubert Top Ten Position Amgen (NASDAQ:AMGN) ($56.93) is on that list too.

Disclosures: I own GE. I may buy more GE. I am also short Jan 2008, 37.50 Puts on GE. I own AMGN and am at my full position. I'm holding onto AMGN too.

I took this photo of the GE lightbulb package. Yes, it's the non-efficient kind. I'm embarrassed, but I think it's been in my closet for a while. I've been pretty good about getting the efficient bulbs. I don't like paying Con Edison for all that expensive electricity.

GE 1-yr chart:

GE

Source: GE Gets It: Slimming Down, Buying Back Shares