Irrational exuberance you say? GM goes BK no one cares
Traders took hold of GM today and whipped it around like a ragdoll.. NO reason in hell for a BK company’s shares, basically deemed worthless to be UP on the day AT anypoint. Per what i said yesterday, GM’s bankruptcy appears to have been baked into the PPS. I have a hinkling the run up today was some institutional short covering. Whatever the case may be, today was historic. Though the market is exhibiting symptoms of a sickness, myself and others will refer to as irrational exuberance, I am still bearish.