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I hear you. I was stupid and got caught in GM since the first week of December until yesterday. Had 6% in 3 days. Should have left but tried to be patient. Wrong! Back to this looks like 6.10-6.15 trendline could be an issue. Cost avg for me is now 5.82. Thoughts? Seems you know this one's behavior pretty well.
Just kicking myself I didn't take a 7% ROI earlier and wait for it to reload. It hit that resistance area that I thought could cause some issues based on the strength of the move. But let's see what happens. Go Santa!
Well just got another boatload at 5.79. Let's go Dow!
I'm thinking if it can get past the 6.25-6.35 area it can run a bit.
Any thoughts for this today guys? Grabbed some after hours yesterday at 5.88 based on your discussions. Thanks
This is one sick market overall. Press today crushed this puppy along with the reality of dilution coming. Thought it could get a pop before all h broke loose, not so sure now.
That would be 4.93 here. Lots of shaorts between the actual 4:00 close of 4.25 on Friday (4.49 after hours) and a potential 4.9 open that would come running to cover. That could then run it possibly into the 5-5.20 area to get that group to cover and then the war or range could be from there to the 6 area for the day. That would be a nice scenario.
Ok GM gapped up 10% this a.m. in Germany. Good start.
All I want for Xmas is a gap up tomorrow like there was on 9/19 or 10/13. I'm not asking for much. Futures off to a good start this evening.
Canada throws in another $4B
Thanks Garza,good info. Monday, Tuesday could be interesting. They took liberties on the price of the final trade regular hours-a good positive liberty!
And more,
4:14:34 312,950 @ 4.4875
4:28:30 306,478 @ 4.485
4:34:20 14,988 @ 4.49
4:34:31 31,101 @ 4.4859
4:39:22 306,478 @ 4.485
4:41:40 154,514 @ 4.49
are they buying or covering-that's the question.
Some more...
@4:03:06 1,485,400 shares @ 4.49
@4:02:55 723,900 shares at 4.49. I know their not mine.
Didn't get the rally I was looking for in the Dow, but GM had a good finish.
If Dow can reclaim the 8680 area it may get legs.
lol not looking too good, is it? I'm not giving up but has been a few brutal months.
Anyone thinking a rally has begun in the markets? It feels it to me. If so hope it can give this stock a kick.
CEO for GM having press conference shortly. Let's see how good of a salesman he can be today.
2nd attempt to break the DTL from 12/17 intraday happening. ~4.28
Hitting 4.50 on and off now. 4.75-4.85 shorts better lock them profits in quick!
Kicking into gear last 3 minutes now 4.33
I'd be happy with 4.5. Bush coming on now.
If the stars align again I'll say, 5.5-7. Need the markets around it to help support and last I looked futures with fair value are positive. JMO
Looking at the charts intraday, I think the 4.75-4.85 area would be the toughest test on the way up.
You have shorts that should be in numbers at 4.30, 4.55, and 4.75-4.85 areas. All recent so I'm thinking quick to cover. Then you have the 5 area and the 5.30-5.5 areas. all recent so therefore again itchy to cover. I'll stick with what I said here a few days ago 5.5-7. Last trade 4.35.
4.12 last trade
CNN financial section, look at premarket for futures, lower down on the page a list of stocks trading in Frankfurt, click on GM. Here last trade premarket 3.88
Germany open. GM moving straight up. Currently up 3.8%. Early premarket on Esignal showing no ask with a bid of 3.65. Never have seen that one before. Hopefully latest news is true. With quadruple witching hour today thrown into the mix-could make for a wild day.
What are the implications of that?
Can't help with the bullish sentiment as that wasn't me that said that statement. However I am bullish based on technicals near and short term. I'm thinking depending on how news is delivered, the status of the GMAC deal, and where overall market sentiment is that day; 5.5-7 would be the pop short term. I did see the news this a.m. that Bush in the NYT is quoted to say that by Xmas the deal would be revealed. I'm thinking that one thing they're waiting for is the outcome of the GMAC deal on Friday before moving forward. JMO
Very unusual activity after hours tonite. I can't say I've ever seen it before. Huge blocks went off 43.6k shares @4.37, 199k @ 4.37, 16k @ 4.37, 50k @ 4.37, and 73k @ 4.37. These were all above the ask. Then you had many orders in small volume 100-700 blocks going off below the bid. Any comments? TIA