Replies to post #6475 on Direxion Daily Financial Bear 3X Shares (FAZ)

[moores2009]

from yahoo finance:http://finance.yahoo.com/news/GM-bondholders-nix-tender-rb-15347225.html;_ylt=At0THAJgcEtg5JEIKDDvvm.7YWsA?.v=9?sec=topStories&pos=main&asset=&ccode=

GM bondholders shun tender offer; bankruptcy nears
On Tuesday May 26, 2009, 3:45 pm EDT

(from the artical)
Current shareholders would be left with just 1 percent of a restructured company.

(consumer confidence is boosted? urrhh?)

[RonnieD]

that's true.. but tomorrow is the existing home sales report.. and foreclosures and repossessions are included in that number.. isn't that ironic.
so if it's better than expected, which is to be expected, the market will use it as a rally excuse.
it doesn't seem to matter to them that the "home sales" figures occur at much lower prices or are not even true sales, just swaps between banks.