It looks like the trend of several stinkers and so so-s in a row will continue.
We see that GMAC is going back to the taxpayer well to prop up the pointless automaker. They'll get the dough too because America is the land of gold. Its flowing out of the street water drains.
Thursday, that is D Day. We can imagine the scenarios. The GDP comes in weak and the market is losing weight real quick. Or, the GDP comes in better than the 3.2% anticipated number. Then the DOW gets real thick and chubby.
CNN: Wall Street heads for weak open
GMAC Financial Services is seeking a third round of bailout funds from the Treasury Department ranging from $2.8 billion to $5.6 billion, according to the Wall Street Journal.
At 8:30 a.m. ET Wednesday, the government is expected to report durable goods orders for September.
A report on new home sales comes out at 10 a.m. ET.
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