GM shares, Swine flu, selling 36% to early

[selkirk]

GM closed on Monday at 2.04 up on the restructing news, not sure why?

the plan may work not proven yet, the unions and the bond holders still have to accept some large concessions. heard from some experts that the bond holders would except the plan since it will be the best they could hope for....

however could chance they would at this point reject it, and see what they get in a bankrupt procedure, could not get much less.

Why are the shares going up, if bond holders have to accept 10-20cent on the dollar the common shareholders will be wiped out...(or close to it).

Swine Flu,hope this is more scare than anything else time will tell...the flu kills thousands every year, and also every 20 years a bad strain hits with a much bigger impact.

Swine Flu may drive down commidities since the fear to the economy, ie. oil. would wait until the market sell off from this runs its coarse, then probably a time to buy. have more cash in my largest account than ever, not exactly planned....have options out, so may need the cash.

TCK TCK.b made a quck profitbale trade, posted on here...also posted when sold it, should have waited a day, they refinanced their debt avoiding for now a huge equity issue.

would have made a 36% gain in one more day, should have kept some..... was worried about earnings (better than expected), though more about the debt and equity issue...

TCK TCK.b has since fallen back and probably will continue so will probably get another chance... time will tell.


thanks
selkirk

 

[DOGS THAT BARK]

GM closed on Monday at 2.04 up on the restructing news, not sure why?

the plan may work not proven yet, the unions and the bond holders still have to accept some large concessions. heard from some experts that the bond holders would except the plan since it will be the best they could hope for....

however could chance they would at this point reject it, and see what they get in a bankrupt procedure, could not get much less.

Why are the shares going up, if bond holders have to accept 10-20cent on the dollar the common shareholders will be wiped out...(or close to it).

Swine Flu,hope this is more scare than anything else time will tell...the flu kills thousands every year, and also every 20 years a bad strain hits with a much bigger impact.

Swine Flu may drive down commidities since the fear to the economy, ie. oil. would wait until the market sell off from this runs its coarse, then probably a time to buy. have more cash in my largest account than ever, not exactly planned....have options out, so may need the cash.

TCK TCK.b made a quck profitbale trade, posted on here...also posted when sold it, should have waited a day, they refinanced their debt avoiding for now a huge equity issue.

would have made a 36% gain in one more day, should have kept some..... was worried about earnings (better than expected), though more about the debt and equity issue...

TCK TCK.b has since fallen back and probably will continue so will probably get another chance... time will tell.


thanks
selkirk

Was nice profit anyway Kirk--and correct move IMO despite gain the next day.
If we all waiting for the next day "maybe's") I have idea we'd be disappointed more than rewarded. Believe dicipline is rewarded much more often than not.

The GM is a puzzeler--key is gov and union
are not part owner--which means they can dictate which suppliers they deal with union or non union--hmmm wonder which way they go.

---and on more scarier note--read article on bank stress test and why gov will not put out standard test for all instead of unique test for different banks--certainly allows them to dictate who the banks loan to(or else) --union ties on this also from what I understand.

 

[selkirk]

agree DTB, taking a profit is never bad, or a small loss...have countless examples of taking a small loss, and avoiding a stock that just blows up.

have written puts on TCK TCK.b at 9cdn. and at 8cdn. got between $1 and .70 for Aug. believe they will expire, the money is added to my cash position...for now.

US will own 10% of Chrysler, 2% ottawa, 2% province of Ontario.

not sure how it will work out after bankruptcy, the money Ontaro, Ottawa and Washington have put in is gone...or has no real value.

they will put more money in, and hopefully for taxpayers they get some of that out...believe the money that has been given so far is gone.

Do not blame those bond holders who took the company to this process, I mean they are secured creditors and were being offered the same as unsecured creditors...they are better off going through this process.
wish Chrysler the best, do not own chrysler car though do own a truck 2004.

also hope the governements involved have an exit plan...not sure if they do...

as for the bank stress test believe it is more pr...
also hope this works out, though these test are supposed to be done on an ongoing basis.

have written puts on cdn. banks and some insurers, sunlife and manulife.

have also sold puts and bought Power financial (listed only on toronto), good yield and good compnaies, though it will follow the financials in general.

thanks
selkirk