PIMCO Director Bill Gross made the reference above, tagging GE with the Automotive sector as the heart of American industrial production. The heart is ailing. Well maybe the arms and legs are severely shattered, but the "other" core of GE, everything that is NOT GE Capital, although tough times it remains strong. The stock today has continued its downward trend of mega proportions. Today's volumes are trending towards the possibility of over 1 Billion shares traded. That would be almost 10x the three month average. The stock hit an intraday low so far of $5.73. A death watch? Guess we'll wait and see how the day develops.UPDATE1: The trading day continued with the stock floating in the mid-sixes, over 750,000,000 shares traded and a closing price of $6.69. The discussion boards are rife with commentary about where it is headed from here. Lots of people are saying up up up. Is that just wishful thinking or is GE truly ready for a complete reversal?
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