GM..Dead cat bounce or are we at bottom?

[traderich]

I am having a tough time deciding what to do with GM.

Seems like the stock is such a bargain and has a terrific dividend yield, but there is such loom and gloom hanging over it about possible BK.

What do you think?

 

[Longhorns]

Why mess around with GM at this point? Long or short, I think it's just a big risk/big reward gamble right now. Plenty of other stocks to trade. JMHO.

 

[Htrader]

Alot depends on what Tracinda does. They still own 40 million shares, and if Kerkorian is looking to bail on his position, then there won't even be a dead cat bounce.

The short-term key of course is the delphi negotiations. If the union strikes, GM might hit 10.

 

[nitro]

I have three letters for you:

GXM

nitro

 

[adityanm]

Unless they can push congress to support them like they did to
Chrysler which made it worthwhile for a while.

 

[FuturesTrader71]

Define what would work as a reversal for your trading style and trade it. At this point, I don't see all the negative news having been discounted in the stock's price. I am not an expert on longterm stuff, but I doubt you want to pick a bottom on this one just yet.

 

[EBenson]

have to agree,without some real support from the feds GM is as dead as the Tyrannosaurus rex

 

[mokwit]

At its most simple the autoworkers have a choice of being out on the street now with pension and medical benefits or being out on the street in 3-5 years without - if you were 55 what would you go for?

 

[murray t turtle]

Quote from traderich:

I am having a tough time deciding what to do with GM.

Seems like the stock is such a bargain and has a terrific dividend yield, but there is such loom and gloom hanging over it about possible BK.

What do you think?

============

5 minutes till NYSE open.

May or may not comment on positions , so put it this way;
when the late great DAL[delta airlines ] was below 50 /200 day moving averages, was glad to PAY dividendsd not collect dividends, even though Usually collect more dividends than pay them.

DAL seemed like a bargain @20.00;
its about 00.75 now, yet still a great brand with excellant customer service, probably will fly with them again

Wisdom is profitable to direct.

 

[traderich]

Is this the dead cat bounce or have we finally turned the corner?