StJoe
91 posts
msg #69201
- Ignore StJoe |
11/12/2008 12:09:55 PM
Would GM be a good investment betting that the Fed will bail them out or would they claim bankrupt then reissue stocks?
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TheRumpledOne
6,411 posts
msg #69202
- Ignore TheRumpledOne |
11/12/2008 1:12:12 PM
What's the reason you want to gamble or guess when you can find plenty of stocks going up or down?
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StJoe
91 posts
msg #69203
- Ignore StJoe |
11/12/2008 5:48:49 PM
I dont want to gamble. Thats why I come here to ask those who have much expernece for there wisdome.
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luc1grunt
622 posts
msg #69206
- Ignore luc1grunt |
11/12/2008 8:39:55 PM
Joe, as a proponent of probabilities, any plays based on opinions or fundamentals/news/fed actions, in my opinion ae gambles. TA or valuation is next to impossible in this current environment (IMO).
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miketranz
961 posts
msg #69213
- Ignore miketranz |
11/13/2008 9:03:13 AM
GM is in big trouble.There are two ways to trade it.One,wait until it crosses the 9 day moving avg going up.Two,buy any green close,sell into the gap the next days open,if you're lucky enough to get one.Do not buy this stock or any stock going down because "you think it's cheap".Trust me,it will get cheaper.....
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StJoe
91 posts
msg #69216
- Ignore StJoe |
11/13/2008 11:31:17 AM
GREAT ADVICE MIKE!
Thank you very much. i will stay far away form GM and any other like this.
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SFMc01
358 posts
msg #69223
- Ignore SFMc01 |
11/13/2008 8:08:13 PM
Mike:
You said, "Two,buy any green close,sell into the gap the next days open,if you're lucky enough to get one."
Respectfully, would you please clarify this for me? What does, "sell into the gap the next days open" mean?
Thank you.
Steve
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marine2
963 posts
msg #69224
- Ignore marine2 |
11/14/2008 1:55:18 AM
Be a momentum trader of GM. Jump in when the MA(50) bows upward for 20 days. Make sure GM gets the loan they need. Make sure they get more concessions from their union. Make sure they continue to stop producing bad selling product. Sell into a nice rally. But remember, there will always be autos and people will always need them. Why give the foreign companies all our car business? If more people realized by buying a Toyota, Honda, Nissan, etc much of that money you are paying for that car goes back to the foreign companies country. Granted they pay our American workers wages, but nothing compared to what they used to make. Our society is heading backwards fast. Pretty soon we will have more business in doling out food stamps to families instead of Americans working in a job and paying into OUR countrys tax system and benefit system.
Our government didnt want to help our backbone industries like the auto companies all because the government didnt regulate our financial system the way it should've been. Let's hope and pray that our American car companies can make it through this mess. If we lose even one of them it will pull our stock market down even further. Millions of people will be affected, more millions will lose their jobs. Let's pray they get the help they need.
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miketranz
961 posts
msg #69228
- Ignore miketranz |
11/14/2008 10:03:56 AM
Steve,buy GM right at the close & sell the next day,right at the open.But only buy if the stock trades up,or green,for that day.If you look back 60 days,most of the times the stock will "gap up" or trade above the previous days high.Worst case,the stock will open flat or at the previous days close.If that's the case,sell it & scratch the trade even.There are other stocks that you can trade with this method that will probably give you more bang for the buck.In this market,overnight trades are the only way to go.......
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StJoe
91 posts
msg #69230
- Ignore StJoe
modified |
11/14/2008 10:18:11 PM
Thanks Mike!
What are better stock to go after?
steve@burnettpainting.com
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