Tuesday, December 02, 2008

GM and the other lies, and the trade on it...

OK, do I really have to rage more against the machine about GM and F bailouts? I will for a minute just so I can sleep, I simply can not believe the crock of BS we are being fed on a daily basis now. GM, F are too big to fail! It's funny, when they bailed out BSC and AIG and C it sure doesn't seem like it did much good! Oh, I forgot, this is ALL because they DIDN'T save LEH! OHHHHH, I almost forgot, sorry! What a total LIE, my gawd, I can't believe that they all say the same thing, like they are Stepford Leaders or somethin'! F wants $9 BIL but "hopes" to not use the funds! ROFLMAO! Sure, ah huh, they want the $9 BIL to look at it1 And, GM's plan looks stellar! Wow, amazing, in ten days they have figured out how to save the company by 2010 when for years they couldn't figure out how to make it work! Oh, yeah, and they want $18 BIL! Nancy Pelosi then comes on TV and says "Bankruptcy is not an option" Why? She says, and I quote "it takes too long"! This is really a sad state. I have to say, if there was an alternate universe where I could go where the OLD US of A existed, I would fly there tomorrow. This is DISGUSTING. I used to have a friend who said that he didn't mind being lied to, just don't do it thinking that he didn't know you were lying. Who believes this BS? Anyone? Bankruptcy is not an option, but giving $27 BIL to start for DEAD BUSINESSES is? And, that $27 BIL will last for 6 months maximum and then they will come back asking for another $27 BIL, and another, and another. And, nice of Rick Waggoner to say he will take $1 for pay! WOw, what a guy! THere was one guy on CNBC today who actually said the most obvious thing, and something I've been saying here for a while. How can you justify giving away all this money, expecting us taxpayers to be on the hook for it and most of the country makes far less than the auto workers, and certainly less than this incompetent executives at these companies? How can you expect people who are struggling to survive to give up some of their hard wages to companies that are GHOST companies, where no one wants their products? Yes, but bankruptcy is out the question because it would take too long, and besides, GM and F are TOO BIG TO FAIL! What a joke. I hate being lied to, its insulting. DOes Nancy Pelosi believe this BS? If she does she's dumber than a doornail. DOes Paulson really believe that the taxpayer is getting good deals on all this money? I doubt it, but he says it with a smile, so it's ok! Total, total joke, makes me ill. Doesn't anyone in power realize that when the masses that are on the hook figure out that they are on the hook that they are risking some very very bad stuff going down. Hell, if I was making $30,000 a year and found out that I had to pay more taxes, or my money was worth less because the government spent 7 TRIL with a T, soon to be 25 to 30 TRIL with a T on Paulson's buddies and other businesses that they hand picked, I think I'd be pretty freakin' pissed! I have to say, I am very disappointed with the President elect. He was voted in on the idea that he represented change and so far all he's done is surround himself with the same old retreads we've all seen before. It's very sad that the guy hasn't even taken office and he's deviated from many of the platforms he was elected on. I am sadly disillusioned.
I'm also tired, and cranky, hehe, my oldest is sick and it's exhausting dealing with your sick child, if you can relate!
As far as trades go, I would look at TM as a fade when a deal is announced, its running here based on the GM bailout, which makes no sense whatsoever but that's what happened today. GM is tough becuase you can't borrow it that I know of. It's going to $1 or less when this all clears and frankly is a great sell the news play, but the options have a lot of juice. what you could do if you want is buy some way in the money puts, like hte $9s or $10s for February, or the $12.50s and just ride them if you like that idea. There's always risk that the stock goes up, but I really doubt it can last even if it does once they announce a deal. Obviously if they make some stupid crazy deal, which is possible, then all bets are off, but otherwise this is a perfect sell the news scenario. F no play I can come up with. TM is one of those stocks that is defying gravity in this market, it should be $20 to $25 and yet is still $60s. Old values die hard, I guess. Either way, should sell the news when it comes as well. Should be next week sometime if not sooner, and that's a good entry I think for a trade with a stop at around $67 just in case. Would look for $55 area potentially.


Thanks for letting me share! :)


amdman said...

Wow, I totally agree!

Your blog is awesome, its something I look forward to every day, plus now you're doubling up on the entries too, keep up the gr8 work.

FACTOR R said...

I agree with amdman I love your blog !hope your boy gets better!

Sunil said...

What wouldit take for u to get on CNBC or Bloomberg besides writing them emails...May be u can wake up the investors and show them reality so they dont get trapped in this mkt for long term..

Jeanne Mancuso said...


Waxie has 2 daughters and I hope she gets better soon too.

I too enjoy the blog and Waxie would be a good balance to some on CNBC. Hopefully the economy is somewhere in between the 2 extremes.


a person who shall remain nameless has said that unlike the times of the great depression there are many more safety nets like Social Security etc to help prevent a reoccurance. Any comments on that?