"General Electric (GE) shows solid earnings growth potential, is attractively valued and appears to be a bargain at its current share price," says Dr. Melvin Pasternak.

The editor of Double-Digit Trading explains, "Fundamentally, GE's earnings recovery could carry the stock higher. The company expects 2010 to be a turnaround year. GE should benefit from $3 billion of cost cutting and restructuring measures.

"GE operates in more than 100 countries. And GE continues to expand its presence in India and China.

Futures are mixed this morning, indicating a flat open and perhaps a continuation of yesterday's downward trend. Overseas, Asian markets were down overnight as are European markets, undoubtedly affecting American investors.

Yesterday's markets tripped for the second day on lack of economic news, fearing the fundamentals haven't changed, especially after Atlanta Fed Chairman commenting that inflation is beyond an acceptable range. Rising interest rates helped push the dollar up affecting commodity prices.  Bond yields changed little.

The overall sentiment in the market is that nothing much will happen until earnings season next month when investors can get a better actual picture of how rising inflation, energy costs and interest rates affected companies individually.

Today at 8:30 two economic indicators will be released: building permits and housing starts.  Market consensus call for 1.96 million and 1.86 million respectively.  We might see a more positive day if the results are better than expected, but barring that, volatility is expected to continue.

Here's a look at some key Blogging Stocks:

Apple (AAPL) shares are down 12 cents in pre-market trading to $57.44 as of 8:12 a.m. Talk last evening was of the expected movies on iPods as Apple started talks with Hollywood studios to offer movie downloads via iTunes Music.  As it is, Apple's partnership with ABC to offer TV shows, seems to be a hit. Music-based social network, MOG, which links to Apple iTunes Music Store and Amazon, started testing  this week.
 
General Electric (GE) fell 23 cents after the close yesterday to trade at $33.70 at 5:25 p.m. yesterday. GE is starting to look like a defensive investment in these times of high volatility.  Yesterday, General Electric offered $438 million to buy Biacore, a Swedish medical instruments maker, which is a 17% premium over its share price due to cash reserves.

Time Warner (TWX) closed at $17.11 yesterday.  Private equity firm, Texas Pacific Group [TPG.UL], is expected to help Internet service provider freenet.de (FRNG.DE) in a bidding war for Time Warner's German AOL business, according to a newspaper.  Verizon Communications is trying to gain lost market share back by looking into new innovations that offer consumers easier and integrated tele-commuting.

Wal-Mart (WMT) closed at $48.27 yesterday. A supreme court decision regarding wetlands could affect Walmart.