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Direxion Daily Financial Bear 3X ETF Message Board

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  • yourdeadmeat69 yourdeadmeat69 May 31, 2009 4:25 PM Flag

    GM Bankruptcy: Better than expected

    Then only reason the GM bankruptcy will have no immediate effect on the market is that the stock has already reached penny status--the lingering pain is from all those Mom and Pop stores put out of manufacturing business because they too now must go belly up.

    The happyness crowd will look at the immediate effect however and be relieved.

    How many business bank loans will now go belly up as a result will affect banks, but not immediately.

    In short, there will be more rearrangement as a result of the Russell 1000/2000 rebalancing on close of business Friday than anything coming out of Detroit this week.

    On that other note, FAZ may float up to $5.

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