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General Motors (GM -1%) will announce a $4B deal with Ally Financial on Monday to acquire...
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Friday, November 16, 2012, 10:40 AM ETGeneral Motors (GM -1%) will announce a $4B deal with Ally Financial on Monday to acquire international assets, according to CNBC's Kayla Tausche. The allure of the move for GM is the ability for it to expand global financing options.
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Any bets on when the next bailout will be?
But the auto majors, particularly Ford and GM, turning will be the first Super Signal that everyone is disgusted, and the Market is being yanked out of the control of the Uber-Bears.
Ford is going to be owed about a dollar!
Other Bullish signals, of course, will be the Gold stocks turning and the Oil stocks turning, followed by Manufacturing and EMs.
But I can tell you, those who play from the Long side are now getting thoroughly disgusted at what has turned into a contrived, Welfare for Hedgies Market.
The BOO'ing has reached the totally silly stage. And most have simply tuned out.
So my gut is still working OK.
And good for Doug Kass. He's opportunistic, of course. But good for him, anyway.
For OUR sectors, Gary Dorsch coming out with one of his terrific pieces last night was also a possible signaler. (I've never met Gary, but I think he is one of the smartest guys around.)