GM double bottom

Discussion in 'Stocks' started by Anunakki, Apr 15, 2008.

  1. going back a couple years. Not sure how strong it will be...will depend a lot on if we break thindices trading range up or down this month. But still prbably good for a few points long.
  2. astral


    Ask the nephilim, they should know.
  3. How do you think i spotted the double bottom in the first place ? A silly stock screener ?

    Nephilim rock !
  4. piezoe


    GM and Ford are both going to benefit from the weak dollar. They will be able to report + earnings that "beat analysts estimates", even though their earnings will remain pathetic (i think GM reports 4/30). Much, perhaps virtually all, of GM's net earning will be due to exchange rate magic. This, i think, must be behind a few talking heads picking a stock like GM as one of the better performers in 2008. And i suppose relative to itself a case could be made for that. It's still pathetic when you are a car company, but you have to rely on fed action to show a positive return. I don't think it is either a good long or a short, but if i was forced to get involved i suppose i'd want to be short verticals far out. I'm guessing the dollar will strengthen some from here, simply because Inflation due to the non-core items, food and energy, is threatening to become intolerable, and i think we have an election coming up, don't we?:)
  5. piezoe


    GM positive earnings? :D :D :D

    Surely I was drunk when i made the above post. I was right about pathetic though.

    Now we are going into what has the outward appearance of a fairly deep recession driven by high gasoline costs. That's obviously great for GM, right?

    And they just reported negative 3 billion earnings. But don't worry, i'ts just a "one-time," it's to the moon once we get this rough patch out of the way.:D :D :D

    Or, is the 12% rise in GM today a short covering rally. Naw, couldn't be. Remember "as GM goes, so goes the nation". Scary thought isn't it?
  6. All I *know* is I sold my calls for a healthy profit
  7. piezoe


    Congratulations, Anunakki, you definitely made the right move when you sold those Calls!

    Just for laughs, I took a peek at the GM chart today. Volume way up on the jump. In fact, a little too far up! It was more than twice average volume. That suggests to me that there is no lack of supply. This was likely an orchestrated short squeeze, as opposed to solid buying enthusiasm.
  8. I know GM's up over 9% today. I still wouldn't want to put any toes in that water though...
  9. GM is one of those stocks you just don;t short even though the fundamentals sucks
  10. I'm with ya! That should be a standing rule here. DO NOT short GM!

    Probably one of the worst historical shorts out there. Good call!
    #10     Apr 30, 2008