Absolutely right...
Keep in mind, we had the bailout rally when Paulson/Bernanke announced it, so everyone expected it to pass. When it failed the first time, that was a major letdown.
So when it passed the second time, we already knew how much crap was going to be put on it, and dragged on. Was a lost cause.
At that point, there was still optimism about the markets.
Right now, there is major pessimism, we know about the start of recession, and like I stated in previous posts, every joe sixpack has already gone to cash.
I think now that Obama is speaking more, anything will be a sign. Keep in mind, GM/Chrysler needs this money. Ford does not.
If you want a trade idea, Long Ford, Short GM
