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Discussion Starter #1
$0.00


They believe GM doesn't have enough money to make it through December, and if the gov't doesn't intervene, they will have to sell or be out of business.
 

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Desert Rat
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3.34, when it hits 3.00 I'm going in again.....

I call it "Playing poker with your life"
 

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Desert Rat
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learning curve on funding the account.
 

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You guys do know what a downgrade to "sell" means dont you? If the company gets 25bln, from the government what does that mean? It can last another year? GM is burning thru 8 bln a quarter.

I understand why XXXJ is getting in, he was already in at over 4.00 and has to reduce his average position to hope for gains, but it makes no sense for you CC.
 
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Discussion Starter #9
your 9% profit minus commissions minus the 28% capital gains tax equals what? 5%? is it worth the downside risk? And yes, i would sell for 9% and run away.
Not many good investors I know worry about short term capital gains. I'm not playing with a couple hundred shares, so commission isn't anything to worry about.

Worth the downside risk? :sonicjay: What stock isn't?
 

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My argument is that the upside on this play is small and the downside is large. if you are going to day trade it, that is fine, but it is only going to move 10% (minus 3% of your earning in capital gains = 7%) and that, to me, is not worth the downside risk. Especially if you cant sit by the computer all day and watch the ticker for the days high to sell on.
 
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Discussion Starter #13
My argument is that the upside on this play is small and the downside is large. if you are going to day trade it, that is fine, but it is only going to move 10% (minus 3% of your earning in capital gains = 7%) and that, to me, is not worth the downside risk. Especially if you cant sit by the computer all day and watch the ticker for the days high to sell on.
Just hit my sell mark, and I'm out. 14.3%...

I'll let you know how much capital gains I have to pay after all my write-down's this year. :sonicjay:
 

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Obama Nation!
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I have been debating this for a few weeks.
I have a feeling the govt will step in and do something. There are too many jobs at stake. Not just the jobs at GM, but also the jobs created by those jobs.
 
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Discussion Starter #15
I have been debating this for a few weeks.
I have a feeling the govt will step in and do something. There are too many jobs at stake. Not just the jobs at GM, but also the jobs created by those jobs.
I think they're going out of business. I would never mess with GM for a long term play.

Good luck though.

And good thing you debated it for a couple weeks, otherwise you would have been down 70% :sonicjay:
 

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I think they're going out of business. I would never mess with GM for a long term play.

Good luck though.

And good thing you debated it for a couple weeks, otherwise you would have been down 70% :sonicjay:
How are you setting up your sells? Are you placing automatic sell orders, or manual?
 

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auto.
bought with a stop limit order

sold with a cond order of 15% up and 1% down which left it open to go higher and then I could manually unload.
Thanks. I have been executing with manual plays, I was thinking about setting up some auto trades. My limit order didn't trigger, so I was left out of this swing (so far).
 
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