posted
Originally posted under the wrong thread....
F. Traded Ford three times (this month) on the way down and did ok. There is a lot of "emotional" trading going on which suites me just fine. Bought in the other day * 5.98. I see this stock going back up to $7.75-$8.00 in the next couple of months, should be able to trade it two or three more times on the way there. What do you guys think?
Update 6-21-08 Thank God for Blackberry... Just got out in time to make about .40 a share. After all the news on Friday I will load up more on Monday and play the game again... Is this a wonderful country or what??
-------------------- I don't need no stinking Broker to loose my money. Posts: 37 | From: NY | Registered: Sep 2007
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quote:Originally posted by greg755: There is a lot of "emotional" trading going on which suites me just fine. Bought in the other day * 5.98. I see this stock going back up to $7.75-$8.00 in the next couple of months, should be able to trade it two or three more times on the way there. What do you guys think?
No doubt about the emotion. I thought it would have had a better bounce given the news about Kerkorian infusing more and more money. But the charts didn't support the turn around and with their news of more cuts and possible write downs we could even see the 52wk low again. Also add in that S&P may drop them. A lot of negative pull imo but I also think they have a future. So I would be keeping an eye on the charts.
from their latest 8k.
· North American large truck and SUV production further reduced for remainder of 2008; new Ford F-150 pickup introduction timing adjusted due to market conditions and current-model sell-down
· Production reductions will be achieved through additional downtime, shift reductions and line-speed actions at Ford’s large truck and SUV assembly plants
· Production will increase for the Ford Focus sedan and Ford Escape and Mercury Mariner small utility vehicles
· Next-generation, European Ford Focus and Fiesta small cars to begin production in North America in 2010, as Ford confirms it is revising its product plan to add more small cars, crossovers and fuel-efficient powertrains, including many from Ford’s acclaimed European lineup
· More details and an updated outlook will be provided during Ford’s second-quarter financial report in July; it is clear, however, that 2008 Automotive results will be worse than 2007, cash outflows will be greater than previous guidance and, unless the economy improves, it will be difficult for Ford to break even companywide on a pre-tax basis in 2009, excluding special items
· Ford Motor Credit Company will incur a pre-tax loss this year – excluding any potential payment related to Ford’s profit maintenance agreement – primarily due to further weakness in large truck and SUV auction values; Ford Credit no longer plans a distribution payment to Ford in 2008
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
People seem to focus on the bad news and skip over the good...
Besides Mr. K buying more: Increased exports to China. First Flex fuel car delivered. 15% cuts in white collar jobs and salaries. Overseas sales up.
And for the the first time in a LONG time they are responding Quickly to retooling plants to offer cars that sell... Buying out the older employee's (early retirement) doesn't hurt either.
Wish they would sell off the finance division, and follow GM's leed and get rid of the pensions/health care (let the union pay for it).
IMO I think we are going to see a low of about 5.40
Just a side note: I bought a Focus in 2007 what a piece of junk. After many trips to the dealer with problems, they put me into a 2008, what a difference, the new model is running great, preforms much better and with all the bells an whistles (not to mention the low cost) it is going to be a winner....
-------------------- I don't need no stinking Broker to loose my money. Posts: 37 | From: NY | Registered: Sep 2007
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posted
Guess I will ride through the dip and see what happens. Had a sell order in for 1,000 shares at 5.90 and she was at 5.89 first thing and downhill since.
Posts: 681 | Registered: Feb 2008
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posted
I did not catch the bottom, but bought sevaral times. this stock is a bargain any time it falls in the 5.00's. even if you cannot get the very bottom--g/l
Posts: 3056 | Registered: Feb 2005
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posted
Billionaire Kirk Kerkorian thinks this is undervalued at these levels. On or around April 28th he offered to buy 20 million shares at $8.50 per share, which at the time, presented a 13% premium on the then current trading value.
Posts: 3056 | Registered: Feb 2005
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quote:Originally posted by eddy: Billionaire Kirk Kerkorian thinks this is undervalued at these levels. On or around April 28th he offered to buy 20 million shares at $8.50 per share, which at the time, presented a 13% premium on the then current trading value.
posted
5.40 in Europe now jmho--shorts will cover it to above 5.50 today--and go on up the rest of this week--jmho
Posts: 3056 | Registered: Feb 2005
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posted
GM had 27 plants shut down 1-4 months ago but are up and running now.., the bottom is near or has been reached..., November GM was around 40 in January it was around 30, 1 month as of now after these plants are running the stock is 11.26, is this stock ready to pop yet i wonder if now is a good entry?
Posts: 15 | From: midwest | Registered: Jan 2005
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quote:Originally posted by 2fatherof: GM had 27 plants shut down 1-4 months ago but are up and running now.., the bottom is near or has been reached..., November GM was around 40 in January it was around 30, 1 month as of now after these plants are running the stock is 11.26, is this stock ready to pop yet i wonder if now is a good entry?
Not to put aside Ford but GM has major issues with their own credit. imo we should see their bottom soon after their write downs. I have my pick below $10.
Posts: 7800 | From: Virginia | Registered: May 2006
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posted
Eddy, You called the $5 low.... I am glad you responded, saved my butt. I was positive it was only going to go down to $5.50ish.... Thanks to you I loaded up yesterday at 5.05. I never thought I would see it dip under $5.
I think this is going to be a great play, Lots of good going on.
#1 Delivered the first Flex Fuel car to the DOE. #2 Cutting WHITE collar jobs by 15% #3 Cutting the overall work force down #4 Shutting down plants and Re tooling Quickly. #5 They do have a SUV hybrid and The flex (at 24 mpg)for those people that have to carry around crowds. #6 Larger trade agreements/imports with China. #7 The Mexico cheap car/plant. #8 Getting the Unions under control. #9 Some European divisions and Middle East (like Turkey) Improving. #10 Possibly selling off Volvo.
I think Ford is moving faster to resolve issues than it ever has in the last 60 years.
I also think that putting off the launch of the F150 is a good idea, I'm sure they will use the time to add some bells an whistles to it and possibly find a way to offer it with some kind of gas saving options... Also It will give the dealers time to get all the Junk off their lots, so in a couple of months I think people will notice more practical cars in the show room floor... And last but not least, Americans cant go forever with out a new car. There are millions of people just waiting for a little improvement in the financial situations and I think once they feel their "lives have improved" we are going to see a flurry of new car sales....
G
-------------------- I don't need no stinking Broker to loose my money. Posts: 37 | From: NY | Registered: Sep 2007
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posted
Short the stock if you can and definetly do not go long. Even more so DO NOT average down. Be patient and wait for them to recover. Ford themselves said they will not be profitable or break even for awhile not even in 2009.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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quote:Originally posted by Machiavelli: Even more so DO NOT average down.
Too late. Waiting it out is really all I can do at this point.
Actually in trading you have a choice and in this case you can cut your losses and look for a better stock. Not getting out is the wrong decision because your losses will just mount. I was in this one 2 times and both times I had stop/loss orders on it and it saved me from further losses. Now im staying out of Ford and auto stocks. I'm doing well in other sectors.
-------------------- Let the world change you... And you can change the world.
Ernesto "Che" Guevara de la Serna Posts: 4669 | Registered: Mar 2004
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-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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posted
June car sales plummet; more declines expected Wednesday July 2, 6:03 am ET By Tom Krisher and Dee-Ann Durbin, AP Auto Writers GM hangs on to title of US sales leader as auto industry sees worst June sales in 17 years
DETROIT (AP) -- A last-minute no-interest financing offer and strong sales of some cars helped General Motors Corp. keep its U.S. sales over Toyota Motor Corp. last month, but it was still the worst June for the industry in 17 years and a harbinger of more misery ahead.
"We're going to continue to see declines for the rest of the year," predicted Jesse Toprak, chief industry analyst for auto information site Edmunds.com.
All major automakers but Honda Motor Co. reported steep sales declines for June as buyers continued to flee from trucks and sport utility vehicles to more fuel-efficient models. High gas prices and a sluggish economy helped keep sales low.
Even Toyota, with its flexible, efficient factories, couldn't make the shift from trucks to cars as quickly as American drivers. Its sales for June shrank 21 percent from a year earlier, and it fell far short of some analysts' predictions that it would overtake GM.
June sales at GM had a still-dramatic drop of about 18 percent, as the overall market fell 18.3 percent, according to Autodata Corp.
GM sold about 262,000 vehicles in June, about 69,000 more than Toyota. Car sales were down 21 percent at GM and 9 percent at Toyota. Truck sales were down 16 percent at GM and nearly 39 percent at Toyota.
But Toprak said late-month incentives helped push GM sales after a slow start to June. The company also reported sales increases of more than 20 percent for several car models, including the Chevrolet Cobalt, Pontiac G6 and Chevrolet Malibu.
Still, Toprak said many automakers simply did not react quickly enough to the staggering rise of gas prices.
"I think the gas price rise that we've seen from March through June was so fast and so dramatic that even Toyota, which is known to really forecast consumer demand, was caught off guard," he said.
As the market shifted, some automakers were caught with too few of the smaller cars.
That includes Toyota, which didn't have enough of its fuel-efficient Prius, Corolla or Yaris cars at dealerships to keep up with demand. Prius sales were hurt by a battery shortage, while sales of the Corolla and Yaris suffered because of plant capacity.
When consumer tastes change as quickly they have this year, it's tough for automakers to react in a matter of months. Additional workers have to be brought in to factories and trained to build different cars.
Ford has been trying to raise output of the lone factory near Detroit that makes the Focus compact but still couldn't meet demand this month. Both GM and Ford have announced plans for new subcompacts, but it will take at least two years to gear up factories for the new products.
"That just shows the market forces changed extremely fast. No automaker was ready for it," Toprak said.
Only Honda, whose lineup is tilted toward smaller and more fuel-efficient cars, reported a sales increase for June -- slightly over 1 percent. Honda car sales were up nearly 20 percent, truck sales down 24 percent.
Elsewhere, the picture was far worse. Nissan Motor Co. reported sales off nearly 18 percent. Sales at Ford, which still relies on trucks and SUVs, plunged almost 28 percent. And Chrysler LLC took a huge hit -- down nearly 36 percent.
To help boost sales, Chrysler said it would extend its offer of $2.99-per-gallon gas through July 31. It had been scheduled to expire July 7. Chrysler pays the difference between $2.99 and the pump price for 12,000 miles a year under the offer.
The promotion started in May, but car sales at Chrysler still fell by almost half. Its truck sales dropped 30 percent.
The overall market dropped to 1.19 million vehicles sold, down more than 266,000 from last June. U.S. car sales were down about 10 percent for the first half of this year.
Ford sold 41 percent fewer of its perennial best-seller, the F-series pickup truck, and it sold fewer than half the number of Explorer SUVs as it did in June 2007.
George Pipas, Ford's top sales analyst, said SUV sales are probably down for good.
"Our view is that gas prices aren't likely to go down, and more importantly, many consumers have moved on," he said. "We believe that the segment has merit for certain consumers but is not likely to rebound at any point."
Toyota overtook General Motors Corp. in global sales earlier this year. It passed GM for global vehicle production last year.
Ford stock sank to a 52-week low of $4.41 early Tuesday but recovered to finish at $4.71, down 10 cents. They have traded as high as $9.64 over the past year.
GM managed to beat analyst estimates. Mark LaNeve, GM's vice president of North American sales, said it was not possible to figure out how much GM's month-ending three-day sale boosted June sales.
Shares of GM -- which on Monday traded at their lowest point in more than half a century, according to the Center for Research in Security Prices at the University of Chicago -- rose 25 cents Tuesday to close at $11.75.
The Associated Press reports unadjusted auto sales figures, calculating the percentage change in the total number of vehicles sold in one month compared with the same month a year earlier. Some automakers report percentages adjusted for sales days. There were 24 sales days last month, three fewer than in June 2007.
AP Business Writer Bree Fowler in New York contributed to this report.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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