GM a short!

S

si3b3n

I shorted GM today and lost quite a bit of money. I got in at 22.26 and got out a lot higher then that. Awww....

I knew it was a short, but I didn't have the balls to hold it a bit longer. Now, it is at approximately 21.10 level. Below a 15 year low!!!

So guys, what do you say? Is GM still a GOOD short???

si3b3n
 
GM is at an extreme low level right now... it's 13.2% below its simple 10 day moving average.

It looks to have bounced off 20.90 with a wave of buyers around 21.

I would be patient and short it at a better opportunity, perhaps if it gets up to resistance around $22.30.

But to answer your question, yes I expect GM to continue to go down in the long run.

cheers,
 
I'm short 4500 shares of GM. Dropping earnings, losses, Union troubles, slow sales, lower production, strikes, gas prices, competition, dwindling market share... Did I miss anything??
 
wagoner: keep working my minions, you can't stop yet!:D :D :D The institutions should know better than to buy like they did today on non-public information! That letter was not released to the press because it was not intended for them!
 
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