Hurry!

[DavidS]

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.

 

[Paulie]

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.

 

[DavidS]

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.

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.

 

[NOBama]

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.

 

[Paulie]

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.

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.

 

[DavidS]

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.

Dude, you got a problem with me, take it to the flame zone.

 

[Paulie]

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.

 

[NOBama]

(Reuters) - General Motors Corp's equity may be largely if not entirely wiped out as it complies with the restructuring targets laid out in the federal auto bailout, an analyst at Credit Suisse said, cutting his price target to $1 and his rating to "underperform."

GM shares were down about 7 percent at $4.19 in trading before the bell Monday.

"Over the next two months...it will become increasingly clear that the enormous sacrifice of value on the part of the union and bondholders will require the complete or near-complete elimination of the existing GM equity," analyst Christopher Ceraso wrote in a note titled "Game Over for Existing Equity."

The U.S. government on Friday came to the rescue of U.S. automakers with $17.4 billion in emergency loans, some $13.4 billion of which will be made available in December and January, taken from a $700 billion Wall Street bailout fund originally designed to rescue struggling financial institutions.

More

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.

 

[DavidS]

More

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.

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.

 

[DavidS]

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.

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.

 

[editec]

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.

What a remarkably brave thing to do, DavidS.

Telling the truth about your losses in the market, I mean.

FWIW your quality-of-character portfolio with me has risen enormously.

That's little comfort, I am sure, but credit where credit is due.

It takes a big man to admit he's made some mistakes along the way.

 

[DavidS]

Car stocks are NOT the right stocks to be in this week. Merry bleeping Christmas.

 

[Neubarth]

Car stocks are NOT the right stocks to be in this week. Merry bleeping Christmas.

Indeed!


Toyota reported Wednesday that global vehicles sales plunged 21.8 percent in November-- its biggest drop in eight years.

 

[Neubarth]

More

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.

As I see it, GM is a dead man walking. There is no way they can escape Chapter 11 if the government does not come in and enforce Chapter 11 like bankruptcy settlements on the whold industry. I just do not see it happening without Chapter 11.

Short the stock as it will not survive BK.

 

[editec]

As I see it, GM is a dead man walking. There is no way they can escape Chapter 11 if the government does not come in and enforce Chapter 11 like bankruptcy settlements on the whold industry. I just do not see it happening without Chapter 11.

Short the stock as it will not survive BK.

As I see most of us are dead men walking if the government doesn't prime the ecom pump with some serious cash that gets into the hands of the PEOPLE.

We are in a classic deflationary cycle, now, no doubt about that.

 

[sparky]

so what happens when Bailoutistan pops?

isn't Bernake & co setting the stage for that finale bubble here?

I mean, the only thing they haven't done is give away money....