Its time to buy a couple hundred shares of GM, with a few more days of consolidation I will buy in with a stop limit @ fifteen.
You take a chance to lose six-hundred compared to a upside of, no predictions.
" This isn't an investment for the risk averse, but it's hard to imagine Washington letting GM collapse, especially in an election year "
jeff
yeah i'm gonna buy some shares in the next few weeks too, you know GM won't go away, they just can't, thats too much of america so the only place they can go is up
^^ that's right. The estimated economic impact of GM folding is so profound, it's scares economists. Government will prop it up at the very least. I say buy, too.
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I've been saying this for a couple weeks now it's a huge risk but i beleive it could be an easy way to get into owning a profitable stock. It's like any stock you have to be willing to risk your money and I think GM will turn around and money can be made with them. How much are they a share now?
Well I have been buying for awhile I thought $35 was low. But I am in the stock in for the long term. I just look at it this way I can just buy more at $100 a week now. LOL
I'd advise caution with this, I went through the same thought process with LTV Steel here in Cleveland. LTV filed for bankruptcy about 20 years ago, the stock dropped to .25 a share. The state bailed them out and the stock went up to $18 a share within a year. About 3 years ago, LTV went into bankruptcy again, and when the stock got down to .18 a share, I bought a lot. Unfortunately the state didn't help them, their assets were bought out by another company and the stock is currently worth .005 per share.
I would have never dreamed that the state and local government would have allowed this, since now the state has to guarantee the pensions of the steel workers.
I got burned on a "sure thing", so invest cautiously.
John Wilken
2002 Cavalier
2.2 Vin code 4
Auto
Investing requires due diligence...
Always has, always will.
Transeat In Exemplum: Let this stand as the example.
The last thing I would do is take stock tips from people on this board...half don't even know what Bankruptcy protection means.....or what it involves.
^^ True enough.
Transeat In Exemplum: Let this stand as the example.
