I shorted GS today

Discussion in 'Stocks' started by KINGOFSHORTS, Dec 16, 2008.

  1. and it dropped after the bailout was officially annouced. do you really believe a massive dillutive govt stake in GM would make their stock price go up?
     
    #11     Dec 18, 2008
  2. It will not be a dillutive stake in the company you knob. But its over now, they're not getting bailed out. And for the record I sold and lost .12/ share.

    They will slowly wind down and the government will force all their creditors to restructure their debt. They will also get rid of about 7-8 car and truck models, and probably 2 brands completely.(Most likely Buick and Hummer). GM will then sell off any remaining brands so all is left is Chevy, GMC, and Pontiac.
     
    #12     Dec 18, 2008
  3. Looks like major resistance around 85 or 86 for GS. I'm looking more for longs now, rather than shorts myself currently. I would expect GS to atleast come out and tag the resistance area. I would keep a tight reign on this short, king of short, just to be on the safe side.
     
    #13     Dec 18, 2008
  4. Still holding short right now. Will decide to fish or cut bait friday.
     
    #14     Dec 18, 2008
  5. ymiyake

    ymiyake

    S&P lowered its outlook on GS today right?
     
    #15     Dec 19, 2008
  6. I unloaded my wad and covered this morning :)
     
    #16     Dec 19, 2008
  7. dylan57

    dylan57

    Good trade. Pretty strong resistance here at around 81.29 and the 50 day MA currently at $82.64, but it looks like like it might try to break out with the reversal on Friday. Good to stay on the sidelines and watch for either a breakout to get long, or a bounce of the 50 day to get short.
     
    #17     Dec 21, 2008
  8. I still wouldn't want to be short anything if we start to rally. One trader I learn from is watching for a possible reversal here, earlier than he originally thought. If this turns out to be the bottom, and we rally, I don't think they'll be too many safe shorts.
     
    #18     Dec 21, 2008
  9. Why are you smiling. You lost about $3/share.
     
    #19     Dec 22, 2008