Discussion in 'Stocks' started by S2007S, Mar 23, 2007.
I love putting short limit orders below the bid and watching them get filled at the ask..
You shorting @ 32? Looks like it's where the resistance is at, the runaway gap is yet to be filled.
shorted at $31.70, probably close it out at 4pm. Its up on the DCX news, thats all.
Filled at 32 at the close! :eek:
Sold a small investment position, but you did give me the idea.
Is that a big deal?
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.
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.
Nice volume. Looks like a strong rally.
S2007.... what made you decide to short GM? Just curious.
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.
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