I don't buy stock that are trending downward. I don't catch the falling knife. I like buying stocks that go up. GM is going down. Stupid idea to want to buy GM last week ...see where it went? DOWN from your entry point.
What happened to That TON of support at 34? Yeah it's going to $40...... LMAO QUOTE]Quote from stock_trad3r: The Chart and trading activity is quite bullish. There is a TON of support in the 34 levels. And GM has a tendency to surge 2-3 points easily while other dow stocks are only up 30-60 cents or so. See GM going to 40 wihout much problems [/QUOTE]
I probably read over 100 posts by you claiming that something was "not a big deal". You might want to reread those posts and rethink your attitude. It also helps clear the mind when you force yourself to always add an explanation for your bold, seemingly unfounded statements. If you are not even able to do that how can you check your assumptions? Surely not 'gut-feeling' lol? Well congratulations with your year of papertrading, you at least found out that this didn't work and you lost 1500 YM points since 10/10 which is US$7500 per contract, about 7 times the intraday margin.
GM sucks. I blew it with htis rec. Completely crashed though all support levels. Looks like the 'recovery rally' is over. Back to reality that GM is losing money and their cars suck.
I bought GM today at 27.09. Have a breakeven stoploss. I have been watching it patiently since it reversed at the 40 area. My question is the following. I see that GM is trading approximately where it was 25 years ago. What I would like to know is what the market cap was back then. Is there a data set available that tracks the number of outstanding shares over time? Thanks in advance.
11/19/2007 3:58 PM Buy To Open GM LY 55 $1.73 $9,631.24 11/30/2007 11:23 AM Sell_To_Close GM LY 55 $2.56 $13,963.76 Had to unload this and book a profit. Hope it dumps again.