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A Day In The Life Of A GM DMM
Must. not. let. price. break. $35.
In other news, GETCO, which is already an SLP, is now earning $0.30 for every 100 shares of GM it churns just above the D-Day line of $35 as it is the key DMM in the IPO. Anything below that, and Rattner may give you a very unpleasant call (from Andrew Cuomo's waiting room).
The good thing is now the market is now Apple and GM, the latter of which at last check accounted for 25% of all NYSE volume. The US economy = iPads and Chevy Malibu .
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I was noticing that $35.00 too... definate struggle to keep it above. What a charade!
Was that the sound of GM falling off the cliff???!!!
http://www.youtube.com/watch?v=92LoQ51X8qY
Currently $34.07, a nickel off the low.
national shame
A car company owned by unions is not an investment. Similar to an airline.
Yea, United Airlines gave that union as shareholde thing a try. Tailspin right into bankruptcy.
Always a sad event when the Viagra wears off and the woody goes back to sleep.
Since this is a National Security priority, we need more drugs.....stat.
Speak for yourself. There are those who fear the "In the event an erection last longer than four hours, seek immediate medical help to avoid long-term injury" warning.
The really funny thing is that GM broke $35 on the downside just about at the 4 hour point in today's session.
Now I call that Karma. :>)
Buy GM stock or DIE!!!!!!!!!!!
Buy GM stock or the terrorists win.
Buy GM stock or we kill this dog.
What's our prize if we voted correctly in yesterday's poll? lol
Don't be hasty. It still might make it past 24 hours before it craters for the very last time ever.
Re-Volt-ing
Booo....
fail
GETCO is going to need an open line of credit from Bernanke
Can't GETCO, satisfaction?
no, no... no
hey, hey, hey
The good thing is now the market is now Apple and GM, the latter of which at last check accounted for 25% of all NYSE volume. The US economy = iPads and Chevy Malibu .
Been saying this about Apple since early 200's level. I suggested buying AAPL to the crowd at 300 level yesterday anticipating a technical bounce from that level as well as SPX holding 1175. The market has a lot of opportunity if you just play along with it.
So you must have loaded up on AAPL shares right Harry? Did you buy in size, or maybe I should say: Did you "back up the truck"? (That is the phrase your buddy likes to use..)
Bought a fair amount along with PCLN at 400. These were for trades only and will be sold when my tight stops are triggered, as usual.
I suggest you shove an Apple up your hole, Harry, and no one cares about what bubble stocks you supposedly bought, who cares, save that shit for the Yahoo!Finance boards I mean WTF. More COWBELL!
Harry, you lost what little remaining credibility you had when you started humping the Gates Foundation yesterday. Time to retire at the bottom of your game.
Let's not argue the Foundation. Unless you have any inside connection to it, you're sounding like a fool.
Harry, you ego is growing faster than your self proclaimed market genius.
aaaand its GONE!
Hilarious!
I have never seen 'news' organizations like CNBS and Bloomberg whore themselves more for a company then for this GM IPO. It seemed like at least half of programming yesterday was all-GM, all-the-time. Fawning praise. Even Tom Keene got in the act today, proclaiming something about how other countries should take note of our prowess in turning things around.
While CNBS, et all had their 'jump the shark' moment for me awhile back, I hope this is that time for most others (non-ZH'ers). Simply disgusting how they shill, and they shill some more. The entire week of programming has been a set-up for this, the false frustration in no little-guy allotment, etc., etc.
Just like the EU bank stress test was so-over-the-top absurd, this is too. The Ponzi is now all in.
oops. looks like the pump isn't going to last even 24 hours.
http://www.reuters.com/article/idUSTRE6AH4AD20101118 - (Reuters) - The Chevrolet Volt plug-in electric car, the centerpiece of a revitalized General Motors, was named 2011 Green Car of the Year on Thursday.
What's next? I can't remember an IPO ever being hyped this much.
Sort of like getting a Nobel Peace Prize in your first year in office...
[No, not a partisan comment, a Ponzi-bashing comment.]
Get rid of cable. GM will probably have the biggest spot on NFL coverage in the coming weeks.
Tivo or DVR baby! Jump right over it.
what goes up, must come down...
Dow 7500 by mid march, no mo pomo please
Yep, this sucker is going to implode soon. Massive fraud cannot be sustained forever, something has to break loose. Enron...Lehman...Bear...all of those disasters that people believed could never happen. That's why when I hear from pundits that the market is recovering, I ain't in the least bit convinced. No mo pomo!
http://www.youtube.com/watch?v=xLpfbcXTeo8
less than 24 hrs bitchez!
heck... less than 4 hours bitchezzzz
I'm going to lol when the ZH poll is proven correct, and it falls below its initial price before market open tomorrow.
But then BB will just buy it all up himself with more cowbe..I mean more POMO.
I need more COWBELL pomo!
Keep it above $35 dammit or Ireland will collapse.
Thats OK, they changed the previous close to 33 (instead of 35 as it was this AM) so the stock is still up 5.5%.
Yahoo has the previous close at 0.75. It's up 4,546%. Success!
I'm sure the talking heads will trumpet the IPO as a massive success if it closes above $33.
The average gain for an IPO this year has been about 11% so a much hyped IPO like this closing below the open is not good. I'm just wondering what preferred prices the big boys got and how much did they dump at the retail suckers today.
About 447,000,000 shares.
At the end of the offering, I'd like to see the names of the top 10 holders.
Sadly, there will only be one. BS Bernanke.
The US taxpayer still owns 1/3.
One reason I will never buy their stock or any car they produce.
nice read here :
http://www.minyanville.com/businessmarkets/articles/gm-ipo-market-sentiment-general-motors/11/18/2010/id/31208
Im falling away
Im falling away
Im falling away with you
We cant always say
In the cool light of day whats true
...
But I feel your pain
Its alway the same
But lets not feed it
Yet here in my soul
I want you to know
Ill never leave
Theres nothing to say
No more charades for fools
I came here to stay
Im falling away with you
Im falling away
Im falling away with you..
http://www.youtube.com/watch?v=6ePaLBhXCyM
The dump from $35 is innevitable, only a matter of time.
Just another backdoor conduit to re-fund the TBTF. Hell we even gave them the money to buy the shares they are going to dump at a profit.
Isn't this why it was a Thursday IPO? So that POMO friday will bump it up up and away?
ORI
http://aadivaahan.wordpress.com
Somehow this seems appropriate, though the song is about graduating from college:
http://www.youtube.com/watch?v=nLcjNLqwkdk
Go forth. Be conquered. Go forth and die.
Yes it does seem very appropriate.
Heh, thanks.
Cars are mute. Peak oil is here. The only way the GM stock price will levitate is if the dollar breaks down. The DXY vs gold/silver/platinum (especially platinum right now, just look how strong it is on its 3 day chart) are at a key inflection point. A few things could happen.
1) The dollar maintains this level, and PMs begin a slow appreciation into Asia. This happened yesterday.
2) The dollar breaks here and gets below 77 tomorrow.
Either way, PMs are showing great strength right now. With people taking back their wealth in a global move to purchase physical silver, there is support now above $21 per OZ (this was the old support level). It appears shorts in the low range, meaning $21-$24, will not be hit. The beast is starving, so it will no turn to anything to satisfy its greedy gut. It most likely will turn to the RE market. This in effect eating its own tail.
The game will not likely end however, as corporations (including private institutions such as the Fed/World Bank/IMF) will vie for power once the governments are seen collapsed. This is the crux of the issue. This is why owning value such as precious metal, that which is finite and takes time to get, is so important. If everyone has something of value, then the corporations can not dictate order of time. After all, time is all we have.
So to end this servitude that endangers everything from voting rights to eating habits, please take a moment to reclaim your status as a person of a tribe. A tribe of humanity. Buy local to think global. Keep wealth local to think global. It is in the best interest of everybody for us to not only move our "monie" from private institutions, but to take our real monie back.
"Moot".
Unless you mean cars make no noise. Electric cars sure don't.
I get startled every time one drives by because I don't hear them coming.
The drug gangs in "Weeds" started using them for drive-bys for that very reason.
With all the movement we are at another inflection point and all 3 PMs (Plat/Gold/Silver) are going vert showing huge upside in PMs. This move, the big three going vert at once, is not common. Huge upside coming, unless Blythe and Bernanke tag team tomorrow, but I think the worst (gold selling, or rather leasing, by the Fed, with Blythe bringing in the rear side selling) is over.
voila its down 34.90...
In a Wash DC utopian mkt prices would only go up. So evil the market is.
TWEEEPP!! TWEEEPP!! DANGER !! DANGER!! Approaching LOD. Ramp up the machines. Spin it more! Call CNBC! Post an article! Don't just stand there. POMO something!
Broke $35.00
2 hour moving average (srsly) is about to break sub $35. Wonder if that triggers the HFT rebound?
Do you really think they watch such long-term indicators?
The official script called for the drop two days ago so that today could be super-uper-duper special as GM makes the lucky few wealth and sees its way into the retail accounts of those that didn't get hosed the first time around.
Think of it as a way to tax the middle class without raisng per se their individual tax rates. Very crafty.
Government Sacs will, at the appropriate time in the future, declare that GM is a startling success, when their short position is complete, and let the POS fall back to $0.20 where it belongs - thus completing the tax transaction.
The US economy = iPads and Chevy Malibu.
Seems like a fair trade for my house and job. If only we can get a Big Mac on the right side of the equation, then our mission will be accomplished.
OMG GM about to break its long term trend line support! All POMO hands on deck! lol
341 million shares...now thats an honest market...
The whole offering is 478MM public shares so does that mean everybody will dump thier shares by the close ???
Is it part of the 'mighty dow' again? Put it in their lol
34.90 trades. its a struggle between the HFT robots and the eager flippers. awesome
While I couldn't short the stock this morning, I'm still amused by the decline. Where's the PPT when ya need 'em??
GM just entered a free fall. Has there ever been a flash crash on an IPO?
Hell it might break $34...
GM share price is falling off a cliff! Down 80 cents in the last 20 minutes.
As I say to my daughter when she drops her baba - WHOOPSIE!
Forget $35 Tyler: it is a matter of defending $34 at this point.
If only all the GM dumpers would buy PM calls with their profits ... can't have a perfect day, I guess.
Silver's up over 5%.
touched $34...then the feds algo must have kicked in.
Tango 1: This is Tango 1 to Eccles base. I repeat this is Tango 1 to Eccles base come in over.
Eccles: This is Eccles go ahead Tango 1.
Tango 1: Eccles we potential pump failure in security code " Eternal Groom" please advise.
Eccles: Roger Tango 1 we are monitoring situation and awaiting orders from "Blander Krone"
Tango 1:Roger Eccles. Inform Blander Krone that 35 has been breached.
Eccles: Confirmed Tango 1 Blander Krone is reading a Zero Hedge article currently confirming. Please stand by for orders.
Tango 1:Roger Eccles.
Eccles: Tango be advised Blander Krone is now conferencing with Maraca Kabob and awaiting approval. Churn failure seems imminent.
Tango 1: Roger Eccles awaiting orders.
Eccles: Tango 1 we have orders. If reversal is not apparent by 0300 operation "Reelecting So" has green light.Over.
I can't imagine the PPT will stand for this
Is CNBC getting spiffed on the GM deal? Is Phil Lebeau officially part of the road show team? Never seen such a shameless sales job.
But it's such a historical day! Never before in history has the market had such a historic IPO.
BTW, did I mention how historic today is?
Historic I tell you!
The Jim Cramer and Phil LeBlow road show.
GM looks like a bloody boxer who is getting a pounding and can't wait for the bell to ring.
$34 looks to be the Maginot Line.
Getco better do another volume spike or we get to watch GM close at $34 or lower.
Whoops!
There went 34...
34.must.hold.... aagghhhh
Uh, oh.
39.90
Freefaaaaaaaaaaall...
...And, here come the 'buy-bots'...
They did their job well.
Must. Ramp. Last. Minute.
34.01
Mission Accomplished
That was a close one!
I'm stickin' with my original vote; it's gonna take at least 10 trading days before we break the original IPO price of $33,
And at least a month before we plunge into the pits of Zool...
I voted for 5 days before the wall street criminals pulled a pump and dump. I guess there are not enuf marks / suckers to rape out of their retirement money.
Uncle Ben's Whole Grain Converted Stock
The news headlines will probably say something like "GM up 3 percent today after successful IPO" while ignoring the fact that on the chart the high was hit at 9:40 whereafter it spent the rest of the day stairstepping down, down, down.
Exactly what I expect.
Yep. It's a lock:
http://online.wsj.com/article/BT-CO-20101118-713386.html
Thats exactly what happened, you hit it right on the head. The stock was offered at 33 but at open for trade was starting at 35 a share. And it went up to it's highest level of 35.99, only 99 cents above the opening price. then it went under the 35 to 34 essentially. For a stock to have been 25% of the volume today, it didn't do as well as it should with the pumping from CNBC and the likes. This was a failure pure and simple. they where selling this stock as fast as they could.
I couldn't buy in at 33 although I had a limit order before open. I settled to buy in at 35.31. For some reason my Scottrade account showed a positive percentage change, as if I did buy in at 33.
Somehow ended up making $20 when in fact should have showed a loss for the day. Anyone see foolishness like this?
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