Gm Short

Discussion in 'Stocks' started by S2007S, Mar 23, 2007.

  1. S2007S


    GM short

    I love putting short limit orders below the bid and watching them get filled at the ask..
  2. You shorting @ 32? Looks like it's where the resistance is at, the runaway gap is yet to be filled.
  3. S2007S


    shorted at $31.70, probably close it out at 4pm. Its up on the DCX news, thats all.
  4. Jaxon


    Filled at 32 at the close! :eek:

    Sold a small investment position, but you did give me the idea.

  5. Is that a big deal?
  6. S2007S


    stock had a slight pullback of around 20 cents out of no where to around $31.50 and from there just slowly climbed to 32.

    Still holding my short, $32.25 and ill take my loss and move on.
  7. S2007S


    How the DCX news is great is beyond me.

    Daimler-Benz bought Chrysler in 1998 for $36 billion, now that same company is being sold for $4.5 billion?????

    GM props up over 5% on this news. Ha.
  8. Nice volume. Looks like a strong rally.
  9. hels02


    S2007.... what made you decide to short GM? Just curious:).
  10. S2007S


    I have shorted in the past a few times and did well shorting in this area.

    I gave up on it after I wasn't able to short it with my online broker, just recently I was able to short so I took the chance and shorted some on todays spike.

    I watched GM trade before and I can tell you this stock can easily move straight up for weeks, knowing that, I'm putting my order in to cover at $32.25.

    3 reasons why GM jumped today

    #1 DCX buyout

    #2 For the first time since 2003, General Motors Corp. is giving bonuses in the form of stock to Chairman and Chief Executive Rick Wagoner and other top executives.

    #3 shares rose almost 5% Friday afternoon after Merrill Lynch in a note reiterated that it has a $50 price target for the stock and said it's currently trading well below its historical range.

    Company is still struggling, if oil does make its way back to 65+ a barrel and gas prices continue to climb this could be a problem for GM and their sales of SUVs.
    #10     Mar 24, 2007