I was thinking about shorting around $1.50. I wonder if there were even any shares available to short last week.
there haven't been shares to short in a looooong time. i bought a lot of the june 1 puts at 50 cents. that was the only real way to get short.
Call it a feeling, but I think with the bankruptcy of GM, other investors are going to see this as the end of the bear market. GM was the last real uncertainty going forward.
The commodities trade, especially metals, is still ripping. I regret having sold TCK at around $11... it's up around $16-$17. Wow. I decided to buy some ZINC this morning since it didn't seem to be moving like TCK, PCU, FCX, etc. after Goldman's pumping up of the commodities/metals sector. Let's see if I hold this more than a day...
I'm confused. How the heck is GM up? I read yesterday that bond holders get something but that share holders are wiped out? I don't get this market at all.
CNBC is saying it's a bunch of short-covering. But if I was short GM, I don't see why I'd have to cover if the stock is going to be worthless anyway.
How is that easy cash? When it got to .27 most folks probably thought it was going to .00. There is nothing as easy money in the market. Why not buy it at .88??...it might go to $1.76!! Easy money?
Exactly. If I was short a company... it going bankrupt/out of business is the best thing I could have happen. I would never have to replace that stock.
Even if that was the reason, wouldn't that be something that was already expected over the weekend when the bankruptcy was announced? Why didn't the shares shoot up right at the open? Rather than dropping to $0.27 first. Ohh, it's because people like me panicked and set market sell orders last night..I get it.
How much filling you want? You put in $1000, you come out making an extra $610.... Not a bad filling.
