It looks like this morning’s GE (GE) infomercial for itself did some good, as the company is back above $7. At least for the moment, there are some buyers out there who are convinced that GE Capital won’t take the entire firm to $0.
Not so for the rest of the financials, which keep selling off hard. Notably weak is Wells Fargo (WFC), a big Buffett holding, which is down over 10% today to below $9.
As for everything else, it’s all giving up yesterday’s rally. Citi (C) is at $1.05, just a few ticks away from a bonafide penny stock.