I have taken a few stabs at a GM short in recent months, as the stock teased major $34 support.
A basic tenet of technical analysis is that the more times a well-defined level of support is probed, the more likely it is to eventually give way.
And when we update the daily General Motors chart, you can see how $34 has come into play for a while now.
When you consider the pinched Bollinger Bands, almost assuredly presaging (finally) the big directional move, I am short this one again, just noted inside 12631. My cover-stop is above $36.
If my thesis proves correction, the downside move should make the trade worth the risk, and then some.
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is GM a zero? (again)
I reckon so, uhhmmm (Sling Blade voice)
$GM “don’t have gas in it” Sling Blade voice. lol.
French fried taters. The biggins.
Great quote, Randad. Great scene.
Chess – been following tight stops but finding the market tough to trade in. Most of my plays are on the long side but this action has gradually erased some profits from my account. It’s like the cancer which grows and destroys you. What do u recommend in such environment ?
Alec, no disrespect but I do not want to slight 12631 members. Please see here for details about joining and we can talk more there: https://ibankcoin.com/12631/features/?utm_source=ibcblog&utm_medium=cpc&utm_campaign=sidebar-ad
wow u also sell vacuum cleaners door 2 door n scissors that can cut through a penny? LMAOZ