Discussion in 'Trading' started by gr8trader, Mar 16, 2005.

  1. Whose long GM....not a good trading day for traders playing the GMDCX pair..or anyone playing this stock based upon Book value. The market thinks GM debt downgrades are inevitable. What does everyone else think?

    Anyone know who is long this stock? Anyone know someone holding short?
  2. so much for Dow 11,000, eh?
  3. BSAM


    And the SEC thinks day trading is risky. I think they should implement a new rule:

    No more than 3 trades (overnight holds) in a 5 year period, unless you have over, say, 25 million dollars in your account!!:D
  4. Don Bright

    How are the portfolio traders doing today? I hear "your" traders are long a lot of this stock....and not too happy! That's the problem with trading must be willing to take lots of pain.

    Something good can come of this, a valuable lesson to all. Traders must learn to ask yourself the right questions, why would someone be willing to sell an asset at less than book? Those in the know, anticipated this inevitable earnings revision. Is there a debt downgrade in the near future? Well, they are still selling GM....leave this falling dagger alone.

  5. This just souces say that bob said "that this is the only stock in the dow that he'd own"....and he and tammy own alot of it. I am also hearing, although uncofirmed, reports of many traders in their infamous pairco canada group buried in the spread. More to follow.......
  6. izeickl


    If you take a look at daily/weekly charts, ive no clue why anyone would be long on GM.
  7. according to yahoo finance, there are 564.83M gm shares outstanding.

    they are all longs

  8. axehawk


    I was sooo close to buying GM in my retirement account (mainly because of its attractive dividend).

    Thankfully, my hesistation saved me some pain.

  9. There will be a time to buy....just not quite yet.
  10. now the divident look even more attractive than the time you last looked at it.

    #10     Mar 16, 2005