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  1. #11  
    Senior Member OwlMBA's Avatar
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    Democrats want Bush to help ailing automakers
    Sunday November 9, 1:55 am ET
    By Deb Riechmann, Associated Press Writer
    Reid, Pelosi ask Treasury to provide temporary help to automakers facing economic struggles
    http://biz.yahoo.com/ap/081109/bush_automakers.html

    "We're in the money....... we're in the money......"
    **** Obama and **** you too.
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  2. #12  
    Administrator SaintLouieWoman's Avatar
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    Quote Originally Posted by OwlMBA View Post
    http://biz.yahoo.com/ap/081109/bush_automakers.html

    "We're in the money....... we're in the money......"
    Problem is they have both dropped today. We just bought some Ford this morning, but should have waited a bit longer. This might be a good time for some GM. It really dived (as of a half hour ago, need to check again).
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  3. #13  
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    Quote Originally Posted by SaintLouieWoman View Post
    Problem is they have both dropped today. We just bought some Ford this morning, but should have waited a bit longer. This might be a good time for some GM. It really dived (as of a half hour ago, need to check again).
    GM down 25% as of 2:40pm. When this dog gets to a $1, I might be interested. The market is too volatile to try and pick a bottom in my opinion.
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  4. #14  
    CU Royalty JB's Avatar
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    You may want to sell:

    GM shares plunge after analyst sees them hitting zero
    NEW YORK (AFP) – General Motors shares plunged more than 30 percent Monday after an analyst forecast their price would fall to zero, saying that even if there is a government bailout of the auto giant, shareholders would not benefit.

    "We are lowering our target on GM equity to zero dollars," the Deutsche Bank report said.

    "Even if GM succeeds in averting a bankruptcy, we believe that the company's future path is likely to be bankruptcy-like," it said.

    "While we believe that GM's secured creditors may get a par recovery, unsecured creditors may get very low recovery. Equity shareholders are unlikely to get anything."
    Link

    This is just not good.
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  5. #15  
    GMs not going away. Maybe the UAW will buy them? or maybe their rich Aunt Nancy and Uncle Harry will buy it for them.
    At least once every human should have to run for his life, to teach him that milk does not come from supermarkets, that safety does not come from policemen, that news is not something that happens to other people. ~ Robert Heinlein

    You Say The Battle Is Over
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  6. #16  
    Administrator SaintLouieWoman's Avatar
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    Quote Originally Posted by lacarnut View Post
    GM down 25% as of 2:40pm. When this dog gets to a $1, I might be interested. The market is too volatile to try and pick a bottom in my opinion.
    You're right. The broker told me about Arch Coal---when it was in the mid 50's, after plummeting from the 80's. Now it's about 20, had gone down to 15. I would have hated to have bought it at 80. :eek:

    I've been watching the coal companies for months, well, since July, when he first told me about it. We've decided to just use Scottrade for those $7 trades. The broker just charged a total of $86 to sell a little over $3k of my stock, and it was my idea, no advice given by him.
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  7. #17  
    Senior Member OwlMBA's Avatar
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    Quote Originally Posted by JB View Post
    You may want to sell:

    GM shares plunge after analyst sees them hitting zeroLink

    This is just not good.
    You buy on the way down, not sell, dummy.

    GM and Ford aren't going anywhere. The Dems are too in bed with the Unions. It will be painful until obama is sworn in, but then its smooth sailing.
    **** Obama and **** you too.
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  8. #18  
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    Quote Originally Posted by OwlMBA View Post
    You buy on the way down, not sell, dummy.

    GM and Ford aren't going anywhere. The Dems are too in bed with the Unions. It will be painful until obama is sworn in, but then its smooth sailing.
    MSM money has an article on GM stating that even with a bailout the stock is going lower. Although the company will survive, the stockholders will get hosed and the stock might go down to zero.

    BTW, Toyota sales dropped 30%. With a recession, big ticket items like auto sales are going down. The infusion of cash will only keep a company like GM's head above water. In order for the stock to go up, sales of their vehicles will have to start increasing which won't happen anytime soon.

    If I was going to buy anything, I would short financials and consumer ETF's
    Last edited by lacarnut; 11-11-2008 at 12:53 AM.
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  9. #19  
    Quote Originally Posted by OwlMBA View Post
    Wow. Did you just see who Obama named to his "Economic Advisory Committee"? The Governor of Michigan.... Gee..... MICHIGAN.....

    I am telling you. Buy Ford and GM now. Sell half when it goes up 50%, hold the rest for a while.
    Nancy rides to the rescue. LINK Should we feel bad?
    At least once every human should have to run for his life, to teach him that milk does not come from supermarkets, that safety does not come from policemen, that news is not something that happens to other people. ~ Robert Heinlein

    You Say The Battle Is Over
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  10. #20  
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    Quote Originally Posted by M21 View Post
    Nancy rides to the rescue. LINK Should we feel bad?
    Since Pelosi and dirty Harry have tried to castrate Prez Bush from the 1st day he held office, he should play hardball with these yo yo's tying this aid bill to one of his pet projects.

    I think the economy is going to get worse before it gets better. Lack of confidence in the market is the reason you see these wild swings in stocks. Too much volatility is not for the faint at heart. I would not touch any consumer stock with a 10 foot pole especially the autos.
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