GM

[TheChartGuru]

Just the chatter of the government possibly bailing out the auto industry should propell the price higher. I got in at 1000 shares @ $10.31 with a stop loss at $9.90(today's low). I usually like to wait for a daily MA(20) crossover for a consolidating stock like GM, but I see some positive divergence on the RSI and MACD. Currently, $10.40

The Guru

[englishman26]

So they're planning on creating a GSE out of GM and wiping out the shareholders?!

Why the heck should my taxes pay for crappy american cars to be made when basically the problem is that americans don't want to buy them anymore. Can I not just keep the money and buy a car from japan like everyone else instead and we just be done with these backward, aged institutions?!

[bigzip]

So they're planning on creating a GSE out of GM and wiping out the shareholders?!

Why the heck should my taxes pay for crappy american cars to be made when basically the problem is that americans don't want to buy them anymore. Can I not just keep the money and buy a car from japan like everyone else instead and we just be done with these backward, aged institutions?!

Why the heck should your taxes bailout INTERNATIONAL bankers who've made poor decisions?

If I had to choose who to bailout, it would be GM, but that won't happen IMO.

* Disclaimer: I am a Michigander working in the "crappy" American auto industry

[aiki14]

Why the heck should your taxes bailout INTERNATIONAL bankers who've made poor decisions?

If I had to choose who to bailout, it would be GM, but that won't happen IMO.

* Disclaimer: I am a Michigander working in the "crappy" American auto industry

I agree I'd bailout GM before the internationals, but the management of the domestic auto makers should be pilloried. If it wasn't for the pensioners and the huge number of jobs associated with them I'd say good riddance, and still might if it looks like the companies will be saved at the expense of the aforementioned pensioners and workers.

[englishman26]

My point is merely that if americans wanted to help the american car industry then they would buy their cars. If they wanted their money to help out the industry then that's what they would use it for. They have already voted. If their vote changes then GM et al, will be fine.

I actually don't think american cars are crappy - that's unfortuntely the rap that they've gotten and therefore that's what most people think. I don't understand why my tax money should pay for GM's PR and past manufacturing failures though.

When did we develop this mentality that it's okay to privatize the gains and socialize the losses?! Let businesses fail ffs!

The banking industry supports every other industry globally as well as in the US - the comparison is not worthwhile.

[bigzip]

My point is merely that if americans wanted to help the american car industry then they would buy their cars. If they wanted their money to help out the industry then that's what they would use it for. They have already voted. If their vote changes then GM et al, will be fine.

I actually don't think american cars are crappy - that's unfortuntely the rap that they've gotten and therefore that's what most people think. I don't understand why my tax money should pay for GM's PR and past manufacturing failures though.

When did we develop this mentality that it's okay to privatize the gains and socialize the losses?! Let businesses fail ffs!

The banking industry supports every other industry globally as well as in the US - the comparison is not worthwhile.

I totally agree with not socializing losses and letting the weak fail to be reborn into a more competitive entity. But if I will be fleeced, I prefer to be fleeced to my personal benefit.

It sounds like Atlas Shrugged when the Washington crew decides who will succeed and fail. Not cool :(

[eatsmall]

American government support everything now, from fnm, fre to GM.

[subalphalf]

I'm all for the GOV'T bailing out GM. I need to make back some of the money I lost. I bought in at 11.30$

[TheChartGuru]

I sold my position when it dropped below the pivot line and went short at $10.12. I feel GM will be below $4 in a couple of months.

The Guru

[kingfisher]

So they're planning on creating a GSE out of GM and wiping out the shareholders?!

Why the heck should my taxes pay for crappy american cars to be made when basically the problem is that americans don't want to buy them anymore. Can I not just keep the money and buy a car from japan like everyone else instead and we just be done with these backward, aged institutions?!
I dissagree with your statement about crappy american cars. I own a 2003 Ford Crown Victoria. It gets 20 city and 29 highway. Full size Car not a compact that the forgin car makers call full sized. It has almost 100k on it. It has never been it the shop other than usual maintance such as plugs and oil changes. Yes, I buy American.

What do you drive?

[englishman26]

I dissagree with your statement about crappy american cars. I own a 2003 Ford Crown Victoria. It gets 20 city and 29 highway. Full size Car not a compact that the forgin car makers call full sized. It has almost 100k on it. It has never been it the shop other than usual maintance such as plugs and oil changes. Yes, I buy American.

What do you drive?

I corrected my statement in my next post - I don't think American cars are crappy - but they have that reputation and that is why they can't sell enough of them. The government shouldn't be paying for either past manufacturing errors or current PR problems. The reputation must be based on something though - presumably from the past. I've had two american cars, a Chevy Malibu and a Mercury Cougar and they were both terrible - spent more time in the shop than on the road and got rid of them both after a few years. Cougar isn't made anymore and maybe the new Malibu is much better.

To your second question, an Infiniti G37S or a Toyota Rav4. Haven't had the G37 long enough to give a fair comparison (almost 1 year) but the Rav4 has been immaculate in the 4 years we've had it.

[subalphalf]

I sold my position when it dropped below the pivot line and went short at $10.12. I feel GM will be below $4 in a couple of months.

The Guru


So chartguru how confident are you about that claim? Would'nt it make sense that eventually GM will be back up into the teens pretty soon with gas prices dropping as well as all of the car prices dropping?

[kingfisher]

I corrected my statement in my next post - I don't think American cars are crappy - but they have that reputation and that is why they can't sell enough of them. The government shouldn't be paying for either past manufacturing errors or current PR problems. The reputation must be based on something though - presumably from the past. I've had two american cars, a Chevy Malibu and a Mercury Cougar and they were both terrible - spent more time in the shop than on the road and got rid of them both after a few years. Cougar isn't made anymore and maybe the new Malibu is much better.

To your second question, an Infiniti G37S or a Toyota Rav4. Haven't had the G37 long enough to give a fair comparison (almost 1 year) but the Rav4 has been immaculate in the 4 years we've had it.


I Understand your point of view. Something I did not address earlier was that I agree with your statement of the Gov.should not use Tax payer money to bail out bad business pratices. This includes all, banks, Dumb Home loan Lenders and even Dumber Home Loan Borrowers included! These are not the Tax Payer responsibilites! May be a change is on the way.

[cramerica1972]

I Understand your point of view. Something I did not address earlier was that I agree with your statement of the Gov.should not use Tax payer money to bail out bad business pratices. This includes all, banks, Dumb Home loan Lenders and even Dumber Home Loan Borrowers included! These are not the Tax Payer responsibilites! May be a change is on the way.GM & FORD are nomore american than toyota and nissan are japanese,you are aware that alot of the parts used in gm's and fords are made in mexico right????and toyota has american workers building their cars here in america.so technically speaking the toyota made in america is an AMERICAN vehicle,not japanese.

[kingfisher]

GM & FORD are nomore american than toyota and nissan are japanese,you are aware that alot of the parts used in gm's and fords are made in mexico right????and toyota has american workers building their cars here in america.so technically speaking the toyota made in america is an AMERICAN vehicle,not japanese.

I'm well aware that American workers assemble these foreign autos in America. Now ask yourself where does the bottom line profit from that auto go? Were speaking of thousands per copy. To the country of origin!

C1072 What do you drive? Year and model?

[Stin]

Wow look at the triangle!

[TheChartGuru]

Wow look at the triangle!


I have been in and out of GM 6 times. Love these channeling stocks. GM is going to break out of this triangle, up or down. Something has to give. It has found very strong support at $10. My guess is it will go higher short term. It has now crossed the pivot line and above the 5 minute ma200. Currently, $10.16. In at $10.13 again

The Guru

[mlegha1]

Don't forget about OIL guys, GM's price action has been similar to the airlines when it comes to crude moving.So if this hurricane is the real deal and OIl bounces GM can breakdow.On the otherside if the Goverment does do something to bail them out then it has a lot of short sellers to take it $14-16 in no time.
Good Luck!

[TheChartGuru]

GM is breaking out a 30 minute bollinger squeeze. First resistance at $10.25, R2 at 10.45.

The Guru

[englishman26]

GM is breaking out a 30 minute bollinger squeeze. First resistance at $10.25, R2 at 10.45.

The Guru

I thought it was going to $4??

[TheChartGuru]

I thought it was going to $4??

I still think it's going to $4, but I didn't say I don't trade the price swings.