Gm Short

stock had a slight pullback of around 20 cents out of no where to around $31.50 and from there just slowly climbed to 32.

Still holding my short, $32.25 and ill take my loss and move on.
 
How the DCX news is great is beyond me.


Daimler-Benz bought Chrysler in 1998 for $36 billion, now that same company is being sold for $4.5 billion?????


GM props up over 5% on this news. Ha.
 
Quote from hels02:

S2007.... what made you decide to short GM? Just curious:).
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I have shorted in the past a few times and did well shorting in this area.

I gave up on it after I wasn't able to short it with my online broker, just recently I was able to short so I took the chance and shorted some on todays spike.

I watched GM trade before and I can tell you this stock can easily move straight up for weeks, knowing that, I'm putting my order in to cover at $32.25.

3 reasons why GM jumped today

#1 DCX buyout

#2 For the first time since 2003, General Motors Corp. is giving bonuses in the form of stock to Chairman and Chief Executive Rick Wagoner and other top executives.

#3 shares rose almost 5% Friday afternoon after Merrill Lynch in a note reiterated that it has a $50 price target for the stock and said it's currently trading well below its historical range.



Company is still struggling, if oil does make its way back to 65+ a barrel and gas prices continue to climb this could be a problem for GM and their sales of SUVs.
 
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