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Old 06-05-2009, 12:59 PM   Nav to Top  #1
cashdog
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I don't know how this whole bankruptcy process works, but is now a good time to get in on General Motors? I don't know if the bankruptcy thing is done now, or is just starting. Any help is appreciated.
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Old 06-05-2009, 01:14 PM   Nav to Top  #2
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I bought in yesterday at .75 and sold today at .97. I noticed a slow down once it got around $1.00 and thought it was going to hit resistance and then go back down. Not sure how low it's going to go, but it seems that I was right.

My first positive trade in a while... I needed that one.
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Old 06-05-2009, 01:18 PM   Nav to Top  #3
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Is it possible for this to hit zero in this bankruptcy process?
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Old 06-05-2009, 01:22 PM   Nav to Top  #4
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If they do restructure they'll most likely issue new stock making this one worthless. Move forward with caution should you choose to buy.
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Old 06-05-2009, 01:23 PM   Nav to Top  #5
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My opinion is that there's better opportunity elsewhere. I'm not touching it.
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Old 06-05-2009, 01:31 PM   Nav to Top  #6
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Nothing can go bankrupt with Obama tossing his money around. :p

Last edited by ImportedNoob; 06-05-2009 at 01:42 PM..
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Old 06-05-2009, 02:38 PM   Nav to Top  #7
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Originally Posted by ImportedNoob View Post
Nothing can go bankrupt with Obama tossing his money around. :p
...tossing OUR money around though...

but then again, YES WE CAN! YES WE WILL!
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Old 06-05-2009, 03:13 PM   Nav to Top  #8
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Play now if you want to ride the short covers, but this ticker WILL BE discontinued once the BK process is settled making GMGMQ worthless. A new ticker will be formed for GM with US/Canada and bond equity.

You've been warned.

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Old 06-05-2009, 11:02 PM   Nav to Top  #9
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DONT HOLD OVER NIGHT! YOU HAVE BEEN WARNED!
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