GM -- might be a buy here!

[bahroor]

as much as I don't like the company or their product(s).. this is about making money, nothing else.
has been dropping from 35sh and now down to $30. This might be a nice entry point for a short term hold. May dip just a little more (28-29 range) then up from there back to $35 IMO.

510

what do you guys think?

[metalheadrr3]

200 day MA is at 29.80 see if it gets support first. Otherwise looks like $27 will be the next stop.

Didn't realize this was in free-fall mode. Haven't been watching CNBC enough lately to follow most of the large caps. If I can free up some money I might bite at this one too.

[bahroor]

getting some BIG buys here..

still just watching it though.. close is key

[TonyM]

as much as I don't like the company or their product(s).. this is about making money, nothing else.
has been dropping from 35sh and now down to $30. This might be a nice entry point for a short term hold. May dip just a little more (28-29 range) then up from there back to $35 IMO.

http://stockcharts.com/h-sc/ui?s=GM&p=D&yr=0&mn=6&dy=0&id=p37704840641

what do you guys think?

Kerkorian dumped more shares today...not looking good imo.

[bahroor]

Kerkorian dumped more shares today...not looking good imo.

that would explain the volume today.
yeah, i just saw that too, I wouldn't think about investing in GM (only Ford.. j/k), just trade it, the chart looks so sexy right now:
http://stockcharts.com/h-sc/ui?s=gm&p=D&b=5&g=0&id=p71115094136

"In a filing Thursday with the U.S. Securities and Exchange Commission, Tracinda said it had reached agreement on Tuesday to sell another 14 million shares at $28.75 each, leaving him with 28 million shares of the automaker. That sale would raise a total of $402.5 million and will close on Friday."

[TonyM]

that would explain the volume today.
yeah, i just saw that too, I wouldn't think about investing in GM (only Ford.. j/k), just trade it, the chart looks so sexy right now:
http://stockcharts.com/h-sc/ui?s=gm&p=D&b=5&g=0&id=p71115094136

"In a filing Thursday with the U.S. Securities and Exchange Commission, Tracinda said it had reached agreement on Tuesday to sell another 14 million shares at $28.75 each, leaving him with 28 million shares of the automaker. That sale would raise a total of $402.5 million and will close on Friday."


I don't know if it helps your chart analysis any, but that news was initially announced this morning.

[aiki14]

I watched a trade go across the board this afternoon around 2:43 for 28 million shares @ 29.25. Pretty amazing 819mil in one transaction, wish I was the broker.

[clavocat]

chart looks like $hit...dont catch a falling knife.

[discrat]

Please use a little more decency is your Posts !!!

[Svenwulf]

Please use a little more decency is your Posts !!!


because my virgin ears cant take it. clavo is spot on.. do not catch captn kirks falling knife (now under 5% disclosure)

ot- good to see ya back posting a bit clavo.

[clavocat]

thanks sven nice to be back here, discrat nothin mean intended i just think this thing will hurt if u get in now, IMO id wait for it to hit bottom and bounce then pick it up. with it falling like this, where do u put a stop and how far will it fall? it could fall to 0 in a sense (most likely wont fall that much). i know bahroor knows what hes doin but for anyone to jump on this without seeing a turn around is nuts and is askin to get beat up.

[bahroor]

ditto...

this post was to alert traders of a large cap that is falling and is heavily traded, to watch for a buying signal, not buy while its still dropping...

plus the news about Kerkorian (which I'm sure will cause it to drop further) just came out today... so we'll probably have to wait longer.

[mlegha1]

Falling knife might be stalling....