from the news : "Kerkorian reduces stake in General Motors Tracinda sells 12m GM shares cutting stake to 7.8% "...my guess would be that Kirk and some WallStreet guys misscalculated on this one...what was the plan...? to file for bankruptcy and then split production from the "core"...maybe start producing all of GM's cars abroad ie outsourcing...?
we ? couple of weeks up...?...you can see the future ? ..arent we supposed to be traders here on EliteTrader?
Yes Benson. Yes i can see the probable future That is trading if you use a stop. But i am not in yet. Will wait for shorter time frames to confirm.
I think you are right. So many stocks, even bankruptcy candidates, will come back...at least a little. But when and how much can be tricky. I'm watching GM dive steadily toward my 15-strike short puts. Got a few weeks left, and a few holidays in there too. I like my chances for GM being above 15 by Jan 20, but we'll see. No big deal anyway. It's just a trade. Good luck all. C
It will be interesting to see where it stabilises as the Dogs of Dow crowd contemplate their next year list. Dogs of Dow candidates as of last week close GM T VZ MRK PFE MO C DD JPM GE