Stocks head toward third session of gains

[NOBama]

Tuesday December 9, 7:07 am ET
By Joe Bel Bruno, AP Business Writer

Wall Street looks to open higher for third day as investors await auto bailout news


NEW YORK (AP) -- Wall Street pointed to a third straight session of gains on Tuesday as investors held on to hopes that the government will reach an agreement to rescue U.S. automakers.

Negotiators worked through the night to come up with a $15 billion bailout for Ford Motor Co., General Motors Corp., and Chrysler LLC. A deal might occur as early as Wednesday.

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[DavidS]

Futures are only up 32. I remember a while ago when stocks fell below 8000 they spiked up. I think the same thing will happen here... when stocks hit 9000, they will sell.

 

[NOBama]

Futures are only up 32. I remember a while ago when stocks fell below 8000 they spiked up. I think the same thing will happen here... when stocks hit 9000, they will sell.

As a stand-alone indicator, futures don't carry much weight, IMO. The Auto bailout combined with last nights overseas market activity will carry the day, barring negative news. Wall St will be seeing $ today in anticipation of the big 3 getting 15B$ from our empty coffers.

Tomorrow night, after hours, might be a good time to go long in 1 or 2 of the short ETF's though. I'll be watching... If sentiment doesn't turn Thursday or Friday, I think we'll see a pull back next week.

 

[DavidS]

As a stand-alone indicator, futures don't carry much weight, IMO. The Auto bailout combined with last nights overseas market activity will carry the day, barring negative news. Wall St will be seeing $ today in anticipation of the big 3 getting 15B$ from our empty coffers.

Tomorrow night, after hours, might be a good time to go long in 1 or 2 of the short ETF's though. I'll be watching... If sentiment doesn't turn Thursday or Friday, I think we'll see a pull back next week.

The auto bailout is NOT a done deal. Republican Senator from Nevada has threatened to fillibuster the bill because he is absolutely 100% against this bill. The United States government isn't just loaning the Big 3 money, they're NATIONALIZING them. There are a lot of Republican Senators opposed to this. And they outnumber the Democrats because Clinton and Biden aren't participating.

 

[NOBama]

The auto bailout is NOT a done deal. Republican Senator from Nevada has threatened to fillibuster the bill because he is absolutely 100% against this bill. The United States government isn't just loaning the Big 3 money, they're NATIONALIZING them. There are a lot of Republican Senators opposed to this. And they outnumber the Democrats because Clinton and Biden aren't participating.

You're preaching to the choir here. I for one am dead set against this bailout. GM needs to go Chapter 11 and reorganize then, the other 2, in succession. I don’t see this thing NOT getting passed, even if it means Clinton and Biden coming back to vote, if necessary. Although, I think Biden has already resigned his seat, so I don’t know what kind of voodoo they’ll come up with to skirt that little issue.

 

[Toro]

The market is up 9 of the past 11 days and is extremely overbought. It wouldn't be a surprise if we fell over the next few days then rallied. However, bad news is being bought. Texas Instruments, National Semiconductor and a few other chip companies reported bad news and their stocks are up today. That's telling me there is more upside to come.

 

[usmbtech]

Sold a few of my long positions today, what short etfs would you recommend?

 

[NOBama]

Sold a few of my long positions today, what short etfs would you recommend?

Not a recommendation but, some of that I trade on depending on circumstances are:

SDS
SKF
FXP
SRS
QID
EEV

Here's a list (there are others): Leveraged ETFs - Complete ETF List

Good luck!

 

[DavidS]

You're preaching to the choir here. I for one am dead set against this bailout. GM needs to go Chapter 11 and reorganize then, the other 2, in succession. I don’t see this thing NOT getting passed, even if it means Clinton and Biden coming back to vote, if necessary. Although, I think Biden has already resigned his seat, so I don’t know what kind of voodoo they’ll come up with to skirt that little issue.

Not all US auto-makers are doing badly. In fact, Ford is healthy and isn't taking a dime from our government. If that is the case, the CEO deserves whatever compensation the board gives him.

I repeat, FORD is doing fine.

I sold Fords for a year. I know their cars. They're GOOD cars. When they replaced the crappy Escort with the Focus, they made a GREAT move. When they re-designed the Explorer to have 4-wheel independent suspension, they made a GREAT move. When they did the exact same thing with the Expedition, they made a GREAT move. When they replaced the Taurus with the Five Hundred... eh. A blunder. But the Ford Fusion is selling very well. As is the Ford Edge, the Ford Flex and they're coming out with a new coupe soon. The re-designed Mustang is a hit and the all new F-150 - again a GOOD move. You can compare head to head any Ford vehicle today to any other US vehicle in the same class, and Ford will beat it outright.

It's GM and Chrysler that are in dire straits. I doubt Chrysler is going to be around in a year from now.

 

[DavidS]

Stocks are down nearly 200 points. Watch what happens in the last 30-60 minutes of trading. If we're still down like this, we'll be down over 300 points today.

 

[DavidS]

Down 238 today. Hey, NOBama, you wanna make a bet where if your guess is wrong, you get a new avatar??

 

[NOBama]

Down 238 today. Hey, NOBama, you wanna make a bet where if your guess is wrong, you get a new avatar??

Hell no man, my momma didn't raise me to take incalculable risk

Besides, as soon as you're paroled, my avatar option gets turned off.

BTW, you should thank CW, cuz you would have spent a week in solitary confinement by choice, had my avatar submission been picked

 

[DavidS]

Hell no man, my momma didn't raise me to take incalculable risk

Besides, as soon as you're paroled, my avatar option gets turned off.

BTW, you should thank CW, cuz you would have spent a week in solitary confinement by choice, had my avatar submission been picked

When you're comfortable enough with your own sexuality, it doesn't really matter what avatar you have. That and I promised to use the avatar. I did NOT promise to have my avatar viewing options enabled! I've pretty much been in the dark for a while now. Only one more full day left... then I use my NEW avatar that I'm sure CW will love!

 

[auditor0007]

Not all US auto-makers are doing badly. In fact, Ford is healthy and isn't taking a dime from our government. If that is the case, the CEO deserves whatever compensation the board gives him.

I repeat, FORD is doing fine.

I sold Fords for a year. I know their cars. They're GOOD cars. When they replaced the crappy Escort with the Focus, they made a GREAT move. When they re-designed the Explorer to have 4-wheel independent suspension, they made a GREAT move. When they did the exact same thing with the Expedition, they made a GREAT move. When they replaced the Taurus with the Five Hundred... eh. A blunder. But the Ford Fusion is selling very well. As is the Ford Edge, the Ford Flex and they're coming out with a new coupe soon. The re-designed Mustang is a hit and the all new F-150 - again a GOOD move. You can compare head to head any Ford vehicle today to any other US vehicle in the same class, and Ford will beat it outright.

It's GM and Chrysler that are in dire straits. I doubt Chrysler is going to be around in a year from now.

Through the years, I've owned quite a few cars. The Ford vehicles I owned were by far the best vehicles I've ever owned. I sold my 94 Explorer last year for $750. The guy who bought it got a great deal because it was still running very well with over 250,000 miles on it.

The GM cars I've owned have been garbage, as well as Nissan and Chrysler. I have never owned a Toyota or Honda. I don't doubt they are very good vehicles also, but I choose to support American companies if they will put out a decent product, which Ford does.

 

[auditor0007]

You're preaching to the choir here. I for one am dead set against this bailout. GM needs to go Chapter 11 and reorganize then, the other 2, in succession. I don’t see this thing NOT getting passed, even if it means Clinton and Biden coming back to vote, if necessary. Although, I think Biden has already resigned his seat, so I don’t know what kind of voodoo they’ll come up with to skirt that little issue.

Ford doesn't need to file for bankruptcy. They're viable as is. Chrysler needs to be scrapped completely. Sell off the Jeep Division and close shop on the rest. As for GM, this bailout will not help their long term survivability. GM should file for bankruptcy, then the government could help them out if necessary. They're problem is the union contract and pension fund. Under bankruptcy, they could rewrite all of it and slim it down to reasonable levels. While this would hurt many current and former employees, it beats the alternative.

 

[NOBama]

Ford will take advantage of the handouts while they're available, you can count on that. It may even be able to get some reorganization done with the help of uncle sam, without going into BK. Their not participating in these hearings just to have a presents.

Meanwhile, if it dips below $1.50 again, I'm buying (more). Ford isn't going away, IMO.

 

[Gord]

Ford doesn't need to file for bankruptcy. They're viable as is. Chrysler needs to be scrapped completely. Sell off the Jeep Division and close shop on the rest. As for GM, this bailout will not help their long term survivability. GM should file for bankruptcy, then the government could help them out if necessary. They're problem is the union contract and pension fund. Under bankruptcy, they could rewrite all of it and slim it down to reasonable levels. While this would hurt many current and former employees, it beats the alternative.

Yup. GM is not an automobile company. It is a Healthcare/Unemployment Insurance/Pension Company that also happens to sell cars. They sold just as many cars last year as Toyota - GM lost a ton of money and Toyota made money. They can sell cars. The overhead baggage (union contracts) needs to be dumped so they can become profitable again.