Biggest commercial real estate bankruptcy

General Growth Properties filed a 29 billion dollar bankruptcy. Does that make it a bottom or the beginning of a trend? I noticed Mr. Zell was on Bloomberg and that IYR is shooting up so either it's the beginning of the end of a short squeeze or the bottom is in. Now look at these two charts. Chart #1 shows that GGP had two whopping rallies in excess of 200% before todays bankruptcy filing so it is completely valid to buy dogs, but to take profits when they come. Chart #2 shows the strong rally that IYR is currently in and if it continues one would have to expect that utilities will have a nice rally that has not occurred as of yet. If not, then IYR should go lower and follow GGP down the ring of fire. Let's see!