Ford Motor Company (F)

[mr_bitterness]

Scary how it's falling. Look at the weekly chart - wow - lookout below! I know the PPS is very event driven but it looks like it could go right back into the 5s. Daily chart shows what appears to be a bottom starting in many indicators but I wouldn't trust it yet. Also 12.68% of the float is held short. Maybe they had something to say about these last couple days... People waiting for the turnaround don't want to wait another year.

The last two days were each big gaps down, with heavy volume on the 1st. And well below 7.38 (the price at which Tracinda is no longer obligated to make good on their offer). Except for the add'l financing, the 8.50 offer may be off the table. At the same time, there may be enough there to cause buying interest, thinking that if you can get in at $7 and sell at $8.50 you are doing pretty well. That seems remote right now.

I will wait for the "bottomest" price I can find and try averaging down a little. My bet is that is falls to the low while I am away so I miss the buy LOL

GLTY