Having tumbled 10% in the pre-open after massively missing earnings expectations and slashing guidance, panic-dip-buyers have stepped in and (thanks in large part to passive index buyers flooding into The Dow), General Electric is now green...
"Kitchen sink" is the new no-brainer... as CEO call sit "horrible and unacceptable"
Dow-buyers helping out (and it looks like some Dow vs GE pairs hit at the open)...
It seems Dow at 1000x the price of GE remains solid resistance...
Who could have seen that coming?
1 more hour of central bank buying before GE turns green
— zerohedge (@zerohedge) October 20, 2017