GM....ouch

G

gr8trader

Whose long GM....not a good trading day for traders playing the GMDCX pair..or anyone playing this stock based upon Book value. The market thinks GM debt downgrades are inevitable. What does everyone else think?

Anyone know who is long this stock? Anyone know someone holding short?
 
And the SEC thinks day trading is risky. I think they should implement a new rule:

No more than 3 trades (overnight holds) in a 5 year period, unless you have over, say, 25 million dollars in your account!!:D
 
Don Bright

How are the portfolio traders doing today? I hear "your" traders are long a lot of this stock....and not too happy! That's the problem with trading fundamentals...you must be willing to take lots of pain.

Something good can come of this, a valuable lesson to all. Traders must learn to ask yourself the right questions, why would someone be willing to sell an asset at less than book? Those in the know, anticipated this inevitable earnings revision. Is there a debt downgrade in the near future? Well, they are still selling GM....leave this falling dagger alone.

 
This just in......my souces say that bob said "that this is the only stock in the dow that he'd own"....and he and tammy own alot of it. I am also hearing, although uncofirmed, reports of many traders in their infamous pairco canada group buried in the spread. More to follow.......
 
according to yahoo finance, there are 564.83M gm shares outstanding.

they are all longs


Quote from izeickl:

If you take a look at daily/weekly charts, ive no clue why anyone would be long on GM.
More...
 
I was sooo close to buying GM in my retirement account (mainly because of its attractive dividend).

Thankfully, my hesistation saved me some pain.

Axe
 
Quote from axehawk:

I was sooo close to buying GM in my retirement account (mainly because of its attractive dividend).

Thankfully, my hesistation saved me some pain.

Axe
More...

There will be a time to buy....just not quite yet.
 
now the divident look even more attractive than the time you last looked at it.


Quote from axehawk:

I was sooo close to buying GM in my retirement account (mainly because of its attractive dividend).

Thankfully, my hesistation saved me some pain.

Axe
More...
 
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