GM a short!

Discussion in 'Stocks' started by si3b3n, Nov 16, 2005.

  1. si3b3n


    I shorted GM today and lost quite a bit of money. I got in at 22.26 and got out a lot higher then that. Awww....

    I knew it was a short, but I didn't have the balls to hold it a bit longer. Now, it is at approximately 21.10 level. Below a 15 year low!!!

    So guys, what do you say? Is GM still a GOOD short???

  2. GM is at an extreme low level right now... it's 13.2% below its simple 10 day moving average.

    It looks to have bounced off 20.90 with a wave of buyers around 21.

    I would be patient and short it at a better opportunity, perhaps if it gets up to resistance around $22.30.

    But to answer your question, yes I expect GM to continue to go down in the long run.

  3. No, its not a good short right now!

    That's just me though :)
  4. tnewman1


    I'm short 4500 shares of GM. Dropping earnings, losses, Union troubles, slow sales, lower production, strikes, gas prices, competition, dwindling market share... Did I miss anything??
  5. wagoner: keep working my minions, you can't stop yet!:D :D :D The institutions should know better than to buy like they did today on non-public information! That letter was not released to the press because it was not intended for them!