[quote=danmooncake,Jun 1 2009, 01:19 AM]
I think speed7791 point is more on unemployment effect caused by GM rather than the concept of Chp 11 bankruptcy per se.
GM closing of its distributorships and shutting down orders will definitely have domino effects.
Yes, the market will expect a huge number of unemployment in US (and elsewhere too because GM imports a lot parts from elsewhere) but whether it is larger or smaller than expected remains to be seen. I expect US unemployment to go double digit soon and if the claims are much much larger, 2%-3% higher.., signs are indicating not getting 'less worse', we'll see further pullbacks.

Added on June 1, 2009, 1:22 amthanks
danmooncake. thats exactly what i meant.

i agree also on your other point that we could see further pullbacks. what i'm concerned is how big a pullback we'll see. last i checked emerging markets haven't found any 'new' customers. everyone is hoping for our 'regular' customers to recover so things could go back to normal.
at this juncture, many ppl will debate. i for one rest my case n will go with what i believe...
i've liquidated most of my positions n hope to take a rest by this week, hopefully.