Iconoclast421

GM: Are We in Looneyland?

About a month ago, I mused that SPX would break the 200dma on the same day that GM finally declares bankruptcy. It looks like a perfectly executed script from someone on high, maybe even from the president himself. I picture the conversation going something like this: "The market is going to need a major boost of confidence when GM declares bankruptcy, otherwise we could be looking at a major panic. You guys need to take whatever steps are necessary to ensure that the market doesn't crash when GM declares bankruptcy." God only knows how much money they spent to make this happen.