GM - what are the chances of bankruptcy?

from the news : "Kerkorian reduces stake in General Motors
Tracinda sells 12m GM shares cutting stake to 7.8% "...my guess would be that Kirk and some WallStreet guys misscalculated on this one...what was the plan...? to file for bankruptcy and then split production from the "core"...maybe start producing all of GM's cars abroad ie outsourcing...?:(
 
Quote from capmac:

GM General Motors setting new multi year low after taking out Nov 17 low of 20.60 (20.40 -0.63) -Technical-
More...


We are close to a big low. At least a couple of weeks up.
 
Quote from paperboy:

We are close to a big low. At least a couple of weeks up.
More...

we ?
couple of weeks up...?...you can see the future ? ..arent we supposed to be traders here on EliteTrader?
 
Quote from EBenson:

we ?
couple of weeks up...?...you can see the future ? ..arent we supposed to be traders here on EliteTrader?
More...

are traders supposed to predict? probably make for an interesting poll
 
Quote from EBenson:

we ?
couple of weeks up...?...you can see the future ? ..arent we supposed to be traders here on EliteTrader?
More...


Yes Benson. Yes i can see the probable future :) That is trading if you use a stop. But i am not in yet. Will wait for shorter time frames to confirm.
 
Quote from paperboy:

We are close to a big low. At least a couple of weeks up.
More...
I think you are right. So many stocks, even bankruptcy candidates, will come back...at least a little. But when and how much can be tricky.

I'm watching GM dive steadily toward my 15-strike short puts. Got a few weeks left, and a few holidays in there too. I like my chances for GM being above 15 by Jan 20, but we'll see.

No big deal anyway. It's just a trade.

Good luck all.

C
 
It will be interesting to see where it stabilises as the Dogs of Dow crowd contemplate their next year list.
Dogs of Dow candidates as of last week close
GM T VZ MRK PFE MO C DD JPM GE
 
You must log in or register to reply here.
Back
Top