$310,000 long on GM at $10/share

[niceneasy]

drop it like its hot. bwill be the best 100k you ever lost (gm is down another 5% premarket)

 

[zdreg]

Quote from options2001:

I bought gm at 9.75 and thought that 25 billion bailout auto industry got will rally gm. when it didnt and went down to 8.75 I cried uncle and sold out. Its better to retreat and fight another day. For those saying gm will go bankrupt. it will never happen with democratic congress, senate and president. They will lend it trillion dollors just to keep it afloat

gm will not go bankrupt but it could go down to $2

 

[short&naked]

Quote from Daal:

if you want to speculate GM debt is a far better bet then the stock. government could punish shareholders but might bailout a big default in this kind of enviroment. regardless buying stocks making 50y lows without HUGE confidence is a sure fire way to go broke, you've been warned

What does a GM Bond yield these days?

 

[Thermactor]

Quote from short&naked:

What does a GM Bond yield these days?

you put a third of a million in the company and you don't know?

(as of the fifth)

So type up GBM, GPM and GXM and check them out

 

[stock_trad3r]

Quote from short&naked:

Currently -75000
Should I bail?

Going to $2

stick the money in google

 

[Elite Loser]

Buying GM at 10 ?. i think you don't know what you're doing. There are hundreds of other stocks to look at. you should quit trading as you're going to lose all your money

 

[1flyfisher]

Auto sales are dead.
I called BOA 2 days ago inquiring about an auto loan.
They currently require, 3 years same job, 3 years tax returns, minimum $2000 monthly income, and the killer,,,,,820 FICO Scores!

Also I read the other day about a nationwide GM auto dealership chain (sorry I forgot the co's name but you can google up the article) which owns 19 dealerships. They are going out of business and closing all 19 dealerships.

I was watching the local tahoe/reno news last night and lo and behold we have a local Chevy dealership closing. Jetway Chevy in Fallon, NV.

When banks are demanded 820 Fico scores cars simply can not be sold. This banking crisis is killing auto sales.

I hope the best for your investment.

Quote from short&naked:

Currently -75000
Should I bail?

 

[AMT4SWA]

That was Bill (TURD) Heard chain of dealerships......could not have happened to a nicer con man!!! :eek:

 

[KINGOFSHORTS]

Quote from short&naked:

Currently -75000
Should I bail?

You are going to end up short of cash and naked on the corner of broad and wall street with nothing but a barrel and suspenders.

 

[dewton]

Hold on to the position and cross your fingers and hope that the market goes back up to breakeven. But once you're at breakeven, the market might move into a profit so keep holding until you get a profit, then hold even longer for a bigger profit...