Hurry!

Discussion in 'Stock Market' started by DavidS, Dec 19, 2008.

  1. DavidS
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    DavidS Anti-Tea Party Member

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    Bush is about to give the automakers low-interest loans to tide them over until March. Now is the PERFECT time to buy GM and Ford stocks low as they'll gain ground over the day... don't plan to hold onto these for a while, make it a short-term fix. Set a price level with GM at $4.50 a share ($3.66 close yesterday, pre-market trading it's up to $4.28) and if it hits $4.50, sell it it. This is a quick way to make some quick cash.
     
  2. Paulie
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    Paulie Platinum Member

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    From the guy who doesn't know what Fair Value is?

    Thanks, but no thanks. There are way better plays out there than volatile auto stocks that are doomed to fail. There's no guarantee that traders are going to care enough about the severed-limb band-aid that Bush is about to apply, to even affect the share prices enough to waste their time.

    But you go ahead and knock yourself out, Dave.
     
  3. DavidS
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    DavidS Anti-Tea Party Member

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    Well, I bought 10,000 shares back in November when it was at $2.79. It closed at $4.49 today. I've made $17,000 so far off of this stock. :D
     
  4. NOBama
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    NOBama Senior Member

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    GM was 4.25 at the bell. There were some funky trades after the bell/before the book was closed. The last one I see on my streamer is: 1,485,400 @ 4.49 which occurred at 4:03:06. After that, there were others between 4.485 and 4.49. Then it pulled back to 4.28 in AH.

    Do you think yesterday’s gap will fill any time soon or do you think this is the breakout you guys have been looking for? Personally, I think it’s going to retrace because I believe GM will be back in DC with it’s hand out for more billions – BEFORE March. Now that we've started down this road I don't see OBama turning back.

    I think if I held that much GM I would have removed all risk yesterday and sold enough to cover my base. Then ride those 3400+/- free shares until hell freezes over. But, that’s just me.
     
  5. Paulie
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    Paulie Platinum Member

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    Yet, you don't even know what fair value is. Something isn't adding up.

    I'm positive you're either lying, or you've lost a lot of money during your trading career, because not knowing something that basic while investing 10's of thousands of dollars is a lethal combination.

    Makes me wonder how much else you don't know that might end up burying your ass someday.
     
    Last edited: Dec 20, 2008
  6. DavidS
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    DavidS Anti-Tea Party Member

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    Dude, you got a problem with me, take it to the flame zone.
     
  7. Paulie
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    Paulie Platinum Member

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    no problem. Just wondering how something so basic has been lost on you, while you're risking so much money.

    Maybe I'm just concerned.
     
  8. NOBama
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    NOBama Senior Member

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    Talk like this makes me glad I bought Ford and not GM. Equity being wiped out is NEVER a good thing for the common shareholder.
     
  9. DavidS
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    DavidS Anti-Tea Party Member

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    I'm taking this one in the balls. I'm hanging tough with GM - because I think Obama will help them in the future. I say by this time next year, GM could be around $15 a share.

    By the way, Ford is taking a hit today as well. Down 34 cents to $2.62.
     
  10. DavidS
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    DavidS Anti-Tea Party Member

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    You have no idea how much money I've lost this year. I started getting in around the time the DOW was around 13,200 in March because the DOW was going to skyrocket. It was down around 1,000 points YTD and everyone around me said the DOW was down too much this year and to get in and get in now because stocks were dirt cheap. Then Bear Sterns collapsed. Then Lehman Bros. collapsed. Then Washington Mutual collapsed. etc. etc. etc. I started my second business this year and invested all of my income that I made into it... but to pays its bills, I borrowed, stupidly, from the first. I thought by the end of the year, I was going to double if not triple my money. I've lost... well, all of it. It's hurt my business, it's hurt me, it's hurt the people I work with... it was a really stupid decesion on my part. During the crisis, I took a lot of money out and put it into gold and then I started taking some money out of gold and put it into financials.. and it hasn't helped. My portfolio is a disaster this year.
     

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