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I would buy this dip because the TARP will be used. They may announce it tomorrow. It is going to be a crazy day!! I would buy if the market if it is down then sell after a decent rally after the announcement of the TARP being used. Just my opinion.
Automakers have sucked ass since the 1970s, now they get out of these stupid contracts with the unions.
-------------------- *I'm not a financial expert or advisor, everything stated is my opinion* Posts: 1680 | From: NC | Registered: Jan 2006
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I agree with the "buy the dip" idea here. The question is, at what point to buy in? I am planning to buy aome at the open, and add as the day goes on if it continues down hard. I'd rather be early than late in this case. And in case they do something over the weekend with the auto bailout, I definitely want to be mostly loaded by EOD. Even if we go down a bunch more next week, I think it's pretty safe to say that we'll eventually recover from this.
quote:Originally posted by osubucks30: I would buy this dip because the TARP will be used. They may announce it tomorrow. It is going to be a crazy day!! I would buy if the market if it is down then sell after a decent rally after the announcement of the TARP being used. Just my opinion.
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WASHINGTON (Dow Jones)--Detailing his decision to grant emergency loans to General Motors Corp. (GM) and Chrysler LLC (C.XX), President George W. Bush said it would be irresponsible to let the firms go bankrupt with the U.S. economy in the midst of a recession. "If we were to allow the free market to take its course now, it would almost certainly lead to disorderly bankruptcy and liquidation for the auto makers," Bush said in a statement from the Roosevelt Room. "Under ordinary economic circumstances, I would say 'this is the price that failed companies must pay' and I would not favor intervening to prevent the auto makers from going out of business." "But these are not ordinary circumstances." Under the plan unveiled by the White House, the government will give struggling auto makers $17.4 billion in emergency loans from the Treasury Department's Troubled Asset Relief Program, allowing the firms to avoid bankruptcy. The funds will be distributed in two stages, the first totaling $13.4 billion. A second $4 billion tranche will be available in February, contingent on the release of the second half of the $700 billion TARP. The firms must demonstrate viability to access the cash. A senior administration official said he expected General Motors and Chrysler to take advantage of the loans later Friday. Ford Motor Co. (F) has said it doesn't need the emergency cash for now.
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It's all in the timing... Posts: 4303 | From: DSA | Registered: Dec 2003
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If Ford ends up taking nada from the government and avoids bankruptcy during the bailout period in American history, then they will become the leading American auto brand favored amoungst our peoples.
Now that's a nice speculation play. I think it will happen...
P.S. - I am biased as I had two Ford Rangers growing up. The first I got stuck under a tree driving too fast in snow, the second I rolled over. On the other hand, I now own a K1000 GMC.
-------------------- Buy Low. Sell High. Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005
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Doh, I was wrong, just looked on the side of my truck, it's a GMC 1500. Chevy has the k1000's.
I always get'um confused goin' to the parts store since all the parts are interchangable between brands. Shoot there's no difference that I can see between my truck and the Chevy, other than a few interior differences.
-------------------- Buy Low. Sell High. Posts: 10754 | From: The Land Of The Giants | Registered: Feb 2005
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