‘The gutter’ is the space between panels where panel transitions happen—readers fill in the blank space by connecting panels to make sense of the story. In GB Tran’s Vietnamerica ( 2010), however, black gutters become part of black ‘bleeds’ (pages congruent with single panels in them) to portray the sites of a trauma. This article argues that if bleeds, as Scott McCloud claims, can depict timeless space, they could also represent the sites of a trauma where the memory of the past is intervened by the future interpretation of the memory. In Vietnamerica, the panels in black in a waffle-iron grid are simultaneously black gutters and a black bleed, where reinterpretation of trauma takes place as speech balloons are later imposed on the same recurrent waffle-iron grid. While Cathy Caruth’s trauma theory helps read Tran’s black bleeds as the sites of a trauma, the latter also extends Caruth’s notion of ‘traumatic awakenings’ since the black bleeds as the sites of a trauma turn into the places of reconciliation and healing.