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GM Stock Slides To Fresh Post-Bankruptcy Lows

Tyler Durden's picture




 

Of all curious correlations we could find to demonstrate the collapse in GM stock, which opened for trade back in November 2010 at $35, and just hit an all time post-IPO low at just over half its IPO price, the best one that exemplifies the second great collapse of GM is the amount of dealer inventory, aka channel stuffing, shown on an inverted axis: the lower the price of GM, the more the channel stuffing. Of course, nobody could have possibly predicted that. Just like nobody could have predicted that Greece will need a third bailout, let along hit the IMF goal of 120 debt/GDP in 2020.

 

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Tue, 07/24/2012 - 15:24 | 2646574 slaughterer
slaughterer's picture

How much is Berkshire Hathaway underwater on their GM position?  Uncle Warren violated some of his own best investing principles when he drank the "Buy America" Koolaid and bought into GM.

Tue, 07/24/2012 - 15:34 | 2646620 Buckaroo Banzai
Buckaroo Banzai's picture

Did you know that "General Motors" in russian is..."General Motors"?

I dunno, I thought that was pretty funny.

GENERAL MOTORS, AUTO MANUFACTURING FOR GREATER GLORY OF UNITED SOVIET STATES OF AMERICA!

Tue, 07/24/2012 - 15:35 | 2646627 battle axe
battle axe's picture

Good investment US Govt. 

Tue, 07/24/2012 - 15:50 | 2646685 Pladizow
Pladizow's picture

Whats the opposite of the Midas touch?

Tue, 07/24/2012 - 15:57 | 2646719 Atlas_shrugging
Atlas_shrugging's picture

wow a final minutes ramp in ES... go figure

Tue, 07/24/2012 - 16:06 | 2646757 Dr. Engali
Dr. Engali's picture

RobotTrader

Tue, 07/24/2012 - 16:07 | 2646762 MachoMan
MachoMan's picture

central planning

Tue, 07/24/2012 - 16:12 | 2646797 francis_sawyer
francis_sawyer's picture

community organizing

Tue, 07/24/2012 - 17:34 | 2647211 TruthInSunshine
TruthInSunshine's picture

I'm going to wait to the channels really get stuffed to the gills and then buy a vehicle that's suitable for hauling barbarous relics, but only if it is 80% off government mandated MSRP and carries a lifetime powertrain warranty backed by Geithner.

On second thought, I've discovered one of the keys to being as free as possible under the circumstances; don't buy shit you don't need, no matter how enticing the department of marketing & treasury appears to make "a deal."

So, I'll continue to use the tools I've already accumulated in a productive fashion, rather than add/accrue unecessary and capital draining (no matter how heavily subsidized/discounted) consumables.

Tue, 07/24/2012 - 16:10 | 2646764 smlbizman
smlbizman's picture

the opposite of the midas touch...how 'bout the bloomberg headline all day that "investors" dump gold to buy corn and soy...is that close....

and how the fuck can they make that correlation....

and can somebody answer who is floorplanning all the dealer inventory?

Tue, 07/24/2012 - 16:19 | 2646832 El Oregonian
El Oregonian's picture

...It's called "Cash for GM Junkers".

Tue, 07/24/2012 - 16:09 | 2646770 Winston Churchill
Winston Churchill's picture

Groping by  Keynes.

Tue, 07/24/2012 - 18:59 | 2647408 MBOB
MBOB's picture

The Crapper touch, in honor of Mr. Crapper, inventor of the water closet.

Tue, 07/24/2012 - 19:01 | 2647411 MBOB
MBOB's picture

The Crapper touch, in honor of Mr. Crapper, inventor of the modern water closet. 

Tue, 07/24/2012 - 15:50 | 2646681 Chuck Walla
Chuck Walla's picture

FORWARD SOVIET!

 

~ Braack Hussein Obama

 

or was that Lenin...

Tue, 07/24/2012 - 15:53 | 2646697 graneros
graneros's picture

It's all the same.

Tue, 07/24/2012 - 15:36 | 2646631 Dr. Engali
Dr. Engali's picture

Shit when hasn't he violated them over the course of the last four years?

Tue, 07/24/2012 - 15:57 | 2646718 dmger14
dmger14's picture

Yes he did.  But he's old now and operating under different principles than when he was younger.

Tue, 07/24/2012 - 16:11 | 2646791 El Oregonian
El Oregonian's picture

Serves him right. It couldn't happen to a nicer guy.

Tue, 07/24/2012 - 17:39 | 2647238 rbg81
rbg81's picture

But I thought Obama "saved" GM??  Oops, maybe a little too early to break out the champaigne?

Tue, 07/24/2012 - 20:30 | 2647624 jumbo maverick
jumbo maverick's picture

Mission accomplished

Tue, 07/24/2012 - 21:04 | 2647679 max2205
max2205's picture

$19 looked good on the chart till it didnt

Tue, 07/24/2012 - 21:31 | 2647728 Buck Johnson
Buck Johnson's picture

Trust me soon GM will have to either file for another "bankruptcy" and/or get another govt. bailout.  There stock is getting to low.

Tue, 07/24/2012 - 22:08 | 2647791 Blano
Blano's picture

They'll just do a 5 or 10-1 reverse split.  Problem solved.

Tue, 07/24/2012 - 22:56 | 2647870 FreedomGuy
FreedomGuy's picture

My company just rolled over its entire fleet of company vehicles to switch to Malibu's. We turned in virtually new cars just drawn from fleet. In several decades in my industry dealing with fleet vehicles I have never seen this. It has to be incredibly expensive which means to me that Government Motors is offloading its inventory at at super low price. They are in essence dumping, probably at a loss. I suspect they are still in trouble.

BTW, the Malibu's do not get anywhere near their rated mileage in my experience. I usually beat the rated mpg in most vehicles.

Wed, 07/25/2012 - 01:44 | 2648147 Freddie
Freddie's picture

Uncle Samil El-Hussein Obam backstops every Buffet investment.   Warren does not lose on anything.

 

Tue, 07/24/2012 - 15:24 | 2646575 zero19451945
zero19451945's picture

Is this a rare case of the "market" actually working? Or is GM being a turd obvious to even the HFT machines?

Tue, 07/24/2012 - 15:28 | 2646592 sessinpo
sessinpo's picture

Or maybe it is that whatever Obama touches, turns to shit. Not that I would want to insult our First Lady, but maybe someone ought to consider wrapping her up in one big depends diaper.

Tue, 07/24/2012 - 15:34 | 2646622 Hedgetard55
Hedgetard55's picture

What makes you think... oh, never mind.

Tue, 07/24/2012 - 15:54 | 2646704 graneros
graneros's picture

Eggsactly!

Tue, 07/24/2012 - 15:39 | 2646639 Buckaroo Banzai
Buckaroo Banzai's picture

They don't call her "Moose Hell" for nothin'!

Tue, 07/24/2012 - 15:25 | 2646579 Meesohaawnee
Meesohaawnee's picture

is it me or did ben turn the algos on? hes 10 minutes late

Tue, 07/24/2012 - 15:25 | 2646580 Mrmojorisin515
Mrmojorisin515's picture

I was thinking, isn't it funny that autoplants didn't shutdown for the summer and we have a presidential election this year?

Tue, 07/24/2012 - 15:41 | 2646646 knukles
knukles's picture

They're busy building more Volts for the Greater Good of The Free People's Democratic Republic of Humerikah

One more Volt
One more Volt
One more Volt

(wondering if Volts come with a get out of Gulag free card?)

Tue, 07/24/2012 - 15:45 | 2646669 veyron
veyron's picture

It's a giant circlejerk: we bail out GE, GE agrees to buy GM cars, all is well!

Tue, 07/24/2012 - 16:04 | 2646743 francis_sawyer
francis_sawyer's picture

Volt early... Volt often... Oh wait!

Tue, 07/24/2012 - 20:51 | 2647660 El Oregonian
El Oregonian's picture

Re-Volt!

Tue, 07/24/2012 - 16:05 | 2646750 ParkAveFlasher
ParkAveFlasher's picture

Sadly enough, I'm sure its workers have been sold on some kind of "we can do it!" initiative and handed over salary, benefits, etc in exchange for stock holdings.  In fact many probably had no choice.  Oh wait

Tue, 07/24/2012 - 20:58 | 2647671 knukles
knukles's picture

And....

Most of the fucking stock was stuffed in the UAW penion palns
LOL
So when they go belly, the PBGC takes 'em over and we, the taxpayer get fucked, again.

Revolting

Tue, 07/24/2012 - 22:38 | 2647839 jerry_theking_lawler
jerry_theking_lawler's picture

I sh*t you not....this is real.

Go to my local post office (small with only a post master....that is a waste upon itself). I'm in my late 30s and have used this post office most of my life. What do I see setting next to the building......a shiny new GM car with .gov plates. I asked the postmaster if that was a new 'carrier car'. PM said nope, it was 'their' car for taking care of official USPS business. What! This PM drives their personal car to work, drives the .usps car to lunch and back, then their personal car home. That is it.

This PM has never had their own private car. This was simply a way for the failing USPS to support the failing GM.

If people would only open their eyes and see what really is happening, especially to their kids and grandkids, they would revolt.

Wed, 07/25/2012 - 01:46 | 2648151 Freddie
Freddie's picture

Hope & Chains - muslim style with El-Barry.

Tue, 07/24/2012 - 16:26 | 2646871 SoCalBusted
SoCalBusted's picture

You know they're fucked when you can now lease a Chevy Volt.

http://www.chevrolet.com/tools/currentoffers/results.do?zipCode=91001

 

Tue, 07/24/2012 - 18:19 | 2647339 smiler03
smiler03's picture

What a great link! No fault of yours but the website insists on a valid zip code. If you don't know one, you don't get in. I'm in the UK and I certainly can't be bothered to find a "valid zip code", fuck Chevrolet!

Tue, 07/24/2012 - 19:39 | 2647512 Diogenes
Diogenes's picture

Try Beverley Hills 90210

Tue, 07/24/2012 - 23:41 | 2647972 cycloptron
cycloptron's picture

There is a clue in the link.

 

results.do?zipCode=91001

Tue, 07/24/2012 - 17:43 | 2647248 GeezerGeek
GeezerGeek's picture

If reelected, or otherwise retained in office, Barack Obama will issue an executive order imposing a tax on anyone not owning a Volt. Waivers will be granted to union members and select others.

Tue, 07/24/2012 - 22:10 | 2647797 Blano
Blano's picture

Those new Volt ads where people brag about saving money on gas after paying thousands extra for the car are downright revolting.  Especially the broad who says she's saving her money for a trip to Hawaii.  Spend spend spend!!!

Tue, 07/24/2012 - 15:25 | 2646582 CunnyFunt
CunnyFunt's picture

PPT to the rescue @ 1524

Tue, 07/24/2012 - 15:42 | 2646653 Stoploss
Stoploss's picture

Gold goes up, euro goes up, and dollar goes down, all at the exact same time.

Really?? Potter?

Tue, 07/24/2012 - 15:26 | 2646583 miker
miker's picture

They don't have any money to buy their stock up. 

Wed, 07/25/2012 - 03:24 | 2648212 hidingfromhelis
hidingfromhelis's picture

Even muppets know better than to buy it.

Tue, 07/24/2012 - 15:26 | 2646584 surf0766
surf0766's picture

So turning the company over to communist supporting union crooks didn't work?

Tue, 07/24/2012 - 16:22 | 2646846 graneros
graneros's picture

As of this writing it appears that there are at least 2 "communist supporting union crooks" who've read your post."  I say +1

Tue, 07/24/2012 - 15:27 | 2646588 Cursive
Cursive's picture

I'm looking forward to GM's 3rd IPO.

Tue, 07/24/2012 - 15:44 | 2646665 Dr. Engali
Dr. Engali's picture

Kind of like Greece's 3rd restructuring. Or is it the 4th? Fuck I'm confused.

Tue, 07/24/2012 - 16:26 | 2646865 graneros
graneros's picture

Come on Doc, you didn't pick up your program this morning?  Who's on first, What's on second, I don't know's...

Tue, 07/24/2012 - 15:56 | 2646712 gookempucky
gookempucky's picture

If it wasnt for the reverse split -Gov Motors would be zzeroooo.

Tue, 07/24/2012 - 15:28 | 2646589 Dumpster Fire
Dumpster Fire's picture

Break-even point is $52.  Bullish.

Tue, 07/24/2012 - 15:28 | 2646593 Meesohaawnee
Meesohaawnee's picture

oh man the HAL9000s went into overdrive. unlike GM cars

Tue, 07/24/2012 - 15:29 | 2646596 VyseLegendaire
VyseLegendaire's picture

But, but....Clint Eastwood said its halftime in 'Merka!

Tue, 07/24/2012 - 15:40 | 2646643 Buckaroo Banzai
Buckaroo Banzai's picture

When you are running a country off a cliff, it is customary to pause halfway for a 15 minute break and call it "halftime".

Tue, 07/24/2012 - 16:06 | 2646756 francis_sawyer
francis_sawyer's picture

...and as the players tried to take the field

The marching band refused to yield

do you recall what was revealed?

Tue, 07/24/2012 - 16:17 | 2646822 tbone654
tbone654's picture

The day... The music died...

 

And we were singin... Bye, bye miss american pie...

Tue, 07/24/2012 - 16:30 | 2646879 graneros
graneros's picture

Good custom.  I suggest everyone use this interlude to stock up on...  Ah hell you all know.  If you don't, best of luck.

Tue, 07/24/2012 - 15:31 | 2646601 Meesohaawnee
Meesohaawnee's picture

yup. just a reminder ... THE SHORT BAN IS STILL IN EFFECT kiddos. 50 points in the down in 4 minutes. yea right...

Tue, 07/24/2012 - 15:32 | 2646612 RmcAZ
RmcAZ's picture

AAPL earnings frontrunning.

Tue, 07/24/2012 - 15:31 | 2646605 Calidreaming
Calidreaming's picture

Im Just wondering ,  has the market ever gone down in the last hour? 

Tue, 07/24/2012 - 16:32 | 2646891 graneros
graneros's picture

Ooops someone forgot to turn the computer on.  Ben's gonna have their balls.

Tue, 07/24/2012 - 15:34 | 2646607 Temporalist
Temporalist's picture

I think a quick resolution to this would be to have a mid-summer Super Bowl so they could advertise to more people how if they "BUY NOW" they will get a fantastic deal but they must HURRY!

 

Another option is to have Cash for Clunkers 2 where your car must be no more than 5 years old and not have GPS tracking and XM or Sirius (because why wouldn't you want to pay for radio?) as well as voice activated interface to tell the driver "There is a cliff coming you should slow down."

 

A third option would be to equip all new models with a gun rack and an American made gun (because those are still worth something and work):

Gun Sales Increase in Colorado After 12 Killed in Movie Theater

http://www.bloomberg.com/news/2012-07-24/gun-sales-increase-in-colorado-...

Tue, 07/24/2012 - 15:53 | 2646702 Pladizow
Pladizow's picture

Open Carry Bitches!

Tue, 07/24/2012 - 16:07 | 2646763 francis_sawyer
francis_sawyer's picture

Hell ~ if someone's going to shoot up movie theatres, I think a wiser investment would be a flak jacket...

Wed, 07/25/2012 - 01:23 | 2648135 peter4805
peter4805's picture

Go long flak jackts!!

Tue, 07/24/2012 - 15:32 | 2646609 Conman
Conman's picture

Its 3:30 pm do you know where your PPT is?

Tue, 07/24/2012 - 15:33 | 2646618 ObungaBoy
ObungaBoy's picture

what is the link between GM and Greece ?!

Tue, 07/24/2012 - 15:54 | 2646703 surf0766
surf0766's picture

Both support communists?

Tue, 07/24/2012 - 15:34 | 2646619 sessinpo
sessinpo's picture

Speaking of GM, it is said that GM is trying to run a scam with their 60 day return policy. The small print in the agreement makes it extremely hard to qualify. They'll take anything as damage to the car which will void the return. But if you can return your car, I am also hearing that because the IRS has not specified how long you must own a Volt to get the tax credit, some are attempting to buy a Volt, get the $7500 tax credit, then return it within 60 days and keeping the tax credit of $7500.

Tue, 07/24/2012 - 15:36 | 2646634 Seasmoke
Seasmoke's picture

I am also hearing that because the IRS has not specified how long you must own a Volt to get the tax credit, some are attempting to buy a Volt, get the $7500 tax credit, then return it within 60 days and keeping the tax credit of $7500.

 

Now that is AWESOME !

Tue, 07/24/2012 - 15:43 | 2646662 Spastica Rex
Spastica Rex's picture

Are there limitations on how many Volts one could buy?

Tue, 07/24/2012 - 15:55 | 2646707 Pladizow
Pladizow's picture

and return!

Tue, 07/24/2012 - 16:09 | 2646768 francis_sawyer
francis_sawyer's picture

dealers just sell them to other dealers (& vice versa)...

Tue, 07/24/2012 - 16:40 | 2646968 Jethro
Jethro's picture

I wonder if a HFT algo can obtain a line of credit, open a dealership buy a Volt, then sell it back and forth to another HFT algo with a dealership?  Think of the revenue from transactions fees!  Ben Bernanke, eat your heart out!

Wed, 07/25/2012 - 04:41 | 2648246 hidingfromhelis
hidingfromhelis's picture

I'll set up Volt-TERS (Volt-Title Electronic Registration Systems) and we can sell the same Volt to multiple buyers!

Wed, 07/25/2012 - 01:51 | 2648160 Freddie
Freddie's picture

I used to flip condos - now I flip Volts with my EBT card.  I got my bitches too with my EBT card. 

Hope and Change makin this brother happy.

http://www.youtube.com/watch?v=o64Fz-KW1Dk

Tue, 07/24/2012 - 16:05 | 2646754 NotApplicable
NotApplicable's picture

I think they fixed those back in Y2k.

Tue, 07/24/2012 - 17:51 | 2647265 GeezerGeek
GeezerGeek's picture

120 Volts is the recommended maximum.

Unless you go the AC-DC route.

Tue, 07/24/2012 - 18:13 | 2647329 A Nanny Moose
A Nanny Moose's picture

Highway to Hell?

 

Tue, 07/24/2012 - 23:04 | 2647887 TrainWreck1
TrainWreck1's picture

220, 221...

Tue, 07/24/2012 - 15:46 | 2646671 knukles
knukles's picture

How many times can I do that?
Can I buy by the dozen?
Gross?
Thousands?
Hunderds of Thousands?

(thinking of how to convince the interrigators it was all for te good of the people)

Tue, 07/24/2012 - 16:08 | 2646766 stocktivity
stocktivity's picture

you can buy a dozen or more only if you are a big banker in one of the "Too big to Fails".

Tue, 07/24/2012 - 17:53 | 2647271 Isotope
Isotope's picture

Just a reminder:

ObamaVolt2012

 

Tue, 07/24/2012 - 18:17 | 2647335 RSloane
RSloane's picture

I had forgotten that....thanks for the lolz.

Tue, 07/24/2012 - 16:01 | 2646733 otto skorzeny
otto skorzeny's picture

I can't give enough votes "up" for that scam. kind of like when GM used to have that credit card(early 2000s?)that you could earn points on and people would load that thing up and basically get a free car.

Tue, 07/24/2012 - 16:46 | 2647023 Papasmurf
Papasmurf's picture

Win-win.  They get to double the sales figures for volts.

Tue, 07/24/2012 - 17:25 | 2647188 WillyGroper
WillyGroper's picture

one good scam deserves another.

Tue, 07/24/2012 - 16:00 | 2646730 Seasmoke
Seasmoke's picture

just thought of how to make the venture work even better.......trade in your junker and haggle on the trade in but NOT the sale price.....the saleman will then give you top dollar for the trade and make sure you take as cash/check....he will then rape you on the retail price and montly payment........but little does he know .....LOL

just trying to think will he be more shocked if you return the Volt, the very next day OR on day #59 ???

Tue, 07/24/2012 - 15:34 | 2646621 Meesohaawnee
Meesohaawnee's picture

tyler is brilliant. maybe he can drumb up the stats of what the market,,haha, did i say that. computer game has done in the last hour say the last 8 months. from sept. OT onward

Tue, 07/24/2012 - 15:34 | 2646623 Dr. Engali
Dr. Engali's picture

Gosh all I hear from the Obummer supporters is how he "saved the auto industry"......bunch of tools (pun intended)

Tue, 07/24/2012 - 15:44 | 2646663 Buckaroo Banzai
Buckaroo Banzai's picture

What he did do was preserve the jobs of thousands of executives, laborers, and union bosses.

They all had one thing in common: they were all overpaid and underperforming.

Tue, 07/24/2012 - 23:17 | 2647922 FreedomGuy
FreedomGuy's picture

I enjoy bashing unions but ultimately blame lays on the upper levels of management for decades of dumb decisions. I am sure there were engineers who knew how to build better cars and wanted to do so. Plenty of others inside who knew what to do but the geniuses who paid themselves high six and seven figure salaries made the bad calls that turned them into a government welfare beggar.

I have seen them in several companies I have worked for. They are pessimists and jerks who are exceptionally arrogant and overrate themselves, as a rule...and overpay. The last phase is when a finance guy leads your company. They usually know little about their field but can cut like hell. They just don't know how to make better products.

Doing my life over I would work for myself or startups with the inspirational founders. They tend to be the real geniuses and often pretty nice people who share the wealth.

Tue, 07/24/2012 - 15:55 | 2646710 Whiner
Whiner's picture

I am hearing that as part of bailout Treasury guaranteed the residual values in auto leases financing GM vehicles. It's open-ended, so the dealer can overprice the car when sold under favorable lease terms. Customer lessee can bring car back after low lease payments for a year and taxpayers are stuck with the residual deficiency. Obammy must keep this doggy barking until election.

Tue, 07/24/2012 - 15:35 | 2646628 Seasmoke
Seasmoke's picture

Stuffing is not just for Thanksgiving turkey anymore !

Tue, 07/24/2012 - 15:37 | 2646636 Joebloinvestor
Joebloinvestor's picture

Isn't it about time GM screwed the bondholders again?

Tue, 07/24/2012 - 15:48 | 2646677 knukles
knukles's picture

GM did not screw the bondholders.
The US Government screwed the bondholders.

Major difference.
If it was GM they'd get a Milken reception at Goldilocks
The Gubamnint is the ones supposed to uphold contractual rights, not fuck 'em.

Tue, 07/24/2012 - 16:07 | 2646759 NotApplicable
NotApplicable's picture

That's like, just your opinion, man.

Tue, 07/24/2012 - 15:40 | 2646641 Seasmoke
Seasmoke's picture

something is going on.....this month i received a bunch of postcards from different mercedes dealers saying that my 2002 ML is such high demand that they want to give me double book value for a car that as far as i can tell no one would take for $5000........if i am wrong and there is lots of demand here at ZH , contact me direct and we can cut out the middleman

Tue, 07/24/2012 - 15:55 | 2646709 fnordfnordfnord
fnordfnordfnord's picture

Funny, they haven't sent me anything about my 1982 300TD. Maybe tomorrow.

Tue, 07/24/2012 - 17:56 | 2647281 GeezerGeek
GeezerGeek's picture

Not a peep from them about my 1998 Dodge Intrepid. Well, it was a Mercedes for a while, if you remember.

Tue, 07/24/2012 - 15:40 | 2646642 Gift Whores
Gift Whores's picture

The Govt could have invested in anything and it chose GM.

Someone in the Govt should be fired for this.

Tue, 07/24/2012 - 16:10 | 2646778 stocktivity
stocktivity's picture

They haven't sent me a thing about wanting my 2002 Neon....pricks

Tue, 07/24/2012 - 16:11 | 2646788 ParkAveFlasher
ParkAveFlasher's picture

Agree.  Why not solar power?  /sarc

Tue, 07/24/2012 - 16:31 | 2646884 SoCalBusted
SoCalBusted's picture

The government never "invests" in anything.  When you hear politicians talk about government investment, run like hell - they really mean more spending.

Tue, 07/24/2012 - 22:42 | 2647841 jerry_theking_lawler
jerry_theking_lawler's picture

spending = taxing....so prepare to open up your check book. again.

Tue, 07/24/2012 - 17:58 | 2647289 GeezerGeek
GeezerGeek's picture

Someone in the Govt should be fired for this. Hints:

1) anyone whose last name begins with the letter 'O'.

2) anyone whose last name is followed by either a 'D' or 'R' in parentheses.

3) anyone not covered by categories 1 and 2 above.

Tue, 07/24/2012 - 15:41 | 2646647 fnordfnordfnord
fnordfnordfnord's picture

Hmm... Should we:

A. Invest in R&D and build better cars?

B. Lobby the gov't for more import tarriffs, and corporate welfare?

 Woops, should've picked "A" instead.

Tue, 07/24/2012 - 15:42 | 2646651 Meesohaawnee
Meesohaawnee's picture

ben needs to re calibrate the algos. they were 9 minutes late. be consistant man. 2:15 or your fired

Tue, 07/24/2012 - 15:43 | 2646660 Plausible Denia...
Plausible Deniability's picture

HAHAHA!!! I was just telling a client of mine the same thing. Man you knew that was coming!!! How many down days have been cushioned by a low volume push in the last 30 minutes. This has turned in to a complete farce. What a joke!!! It wouldn't be so funny if it wasn't so predictable. I told that client we were in for a late day rally as soon as we couldn't push through 1329 on the S&P.

Tue, 07/24/2012 - 15:49 | 2646672 dwdollar
dwdollar's picture

Don't worry, I'm sure Uncle Scam is waiting for the right price to step in and buy some more.

Tue, 07/24/2012 - 15:48 | 2646675 Meesohaawnee
Meesohaawnee's picture

and we are getting our panties in  a bunch over libor being manipulated? huh? this thing called an equity market just as much.. its not "turned into" its "been"

Tue, 07/24/2012 - 15:51 | 2646688 knukles
knukles's picture

What isn't manipulated anymore?

Tue, 07/24/2012 - 15:49 | 2646679 Terrorist
Terrorist's picture

That Abby Jo is lookin more like Maddoff every day. WB7?

Tue, 07/24/2012 - 15:51 | 2646693 the not so migh...
the not so mighty maximiza's picture

GM go fuckin brankrupt allready,, geeez

Tue, 07/24/2012 - 15:55 | 2646708 monopoly
monopoly's picture

And I am sure Barry is proud of what he did. Destroying bond holders, wasting taxpayer money, and by edict keeping GM alive when it should have filed Chapter 7. Good job Obama, and he follows that up with Solyndra, and on and on. What a business man we have for President.

What a complete waste of 4 years.

Wed, 07/25/2012 - 08:16 | 2648452 bourbondave
bourbondave's picture

Darn right he's proud.  Cronyism at its finest.  He could give a shit about taxpayers.  His buddies got paid.

Tue, 07/24/2012 - 15:56 | 2646711 Conman
Conman's picture

Hahha - QE rumor ramp today courtesy WSJ. Hilsenrath again?

Tue, 07/24/2012 - 15:58 | 2646725 monopoly
monopoly's picture

And that is exactly why you do not short this market for more than a few hours. It is broken. It is corrupt and it is not investible.

Tue, 07/24/2012 - 16:04 | 2646742 Conman
Conman's picture

funny even perma fed ball-licker Steve LIESman is saying the Hilsenrath report was bullshit old reguitated crap.

Tue, 07/24/2012 - 16:08 | 2646767 NotApplicable
NotApplicable's picture

Someone's jealous.

Tue, 07/24/2012 - 15:58 | 2646721 Spaceman Spiff
Spaceman Spiff's picture

Mr. Market is going to be pissed when there is no release from Mr. Hilsenrath's ball feathering.

Tue, 07/24/2012 - 16:33 | 2646900 pods
pods's picture

Mr. Market is a dead, bloated corpse bound and shot in the trunk of car somewhere.

Probably a GM.

pods

Tue, 07/24/2012 - 15:58 | 2646724 Meesohaawnee
Meesohaawnee's picture

and they wonder why retail or ever pros for that matter dont want anyting to do with this joke. someone turn out the lights on this silly game. No human trader would buy into this constant QE crap . the day that phrase is forever retired will be a very happy one. Mommy make it stop!

Tue, 07/24/2012 - 16:03 | 2646739 ATG
ATG's picture

Sold DIA Aug 125 puts for +25% overnight profit.

Bot GM and SPY calls.

Real time Overnight Options up +391% since begun 2 July 2012:

http://richcash8tradeblog.blogspot.com/2012/07/rich-cash-overnight-options.html

Wed, 07/25/2012 - 09:01 | 2646810 ATG
ATG's picture

To the six anonymous who clicked the red:

Trading well is the best revenge...

Tue, 07/24/2012 - 16:04 | 2646749 NeedleDickTheBu...
NeedleDickTheBugFucker's picture

Any business that requires ZIRP to survive will inevitably hit the wall.  This includes the banks who rely on it to prop-up their extensive portfolio of underwater assets and the automakers who have had to utilize 0% financing for the past 10+ years in order to sell their products.

Tue, 07/24/2012 - 16:06 | 2646755 Hedgetard55
Hedgetard55's picture

Glad it's not me buying into this pig.

Tue, 07/24/2012 - 16:14 | 2646807 ParkAveFlasher
ParkAveFlasher's picture

hate to "burst your bubble", but if you pay taxes, you are buying into this pig.

Tue, 07/24/2012 - 16:28 | 2646877 JohnnyBriefcase
JohnnyBriefcase's picture

This is like watching old people fuck.

 

Just "pull it" already!!

Tue, 07/24/2012 - 17:33 | 2647221 WillyGroper
WillyGroper's picture

Do u do that often?

Tue, 07/24/2012 - 18:10 | 2647319 Mentaliusanything
Mentaliusanything's picture

Jonny Be brief,

Could you keep your nose offa my ball sack, these days she flops around a bit

signed

Pops

Tue, 07/24/2012 - 16:48 | 2647030 lynnybee
lynnybee's picture

my favorite subject, GM.  I wouldn't buy a GM car even if it was just $100.    so, they steal $57,000,000,000 from the U.S. citizen taxpayer, use our tax money to build factories in other countries and they actually think anyone here in this country will buy their autos!    Well, I have breaking news for the top management at GM!  NOT IF I HAD TO WALK ON MY KNEES FOR THE REST OF MY LIFE would i ever purchase a General Motors auto.   and, don't even get me started about the bondholder ripoff.   

Tue, 07/24/2012 - 17:30 | 2647207 erheault
erheault's picture

  The new and improved volts have had installed a set of petals for when the battery dies after 30 miles, now with the proper diet and gym exersises you can extend the miles to 35 giving you another 5 free miles,  Also they have a windmill installed in the trunk that can be extended to catch the wayward breezes and thereby giving you a extra mile or two.  The US goveernment is buying them to give away for party prizes and local bribes, I understand that they are not having much luck giving them away

Tue, 07/24/2012 - 17:46 | 2647256 Haager
Haager's picture

It's because the Koch brothers doesn't have enough money left after funding all the campaigns and organizations.

Tue, 07/24/2012 - 19:41 | 2647514 goldinpenguin
goldinpenguin's picture

How much AAPL will PPT have to buy tomorrow?

If GM is this bad how good can Chrysler be trying to push the FIAT 500?

Tue, 07/24/2012 - 19:58 | 2647559 DaylightWastingTime
DaylightWastingTime's picture

now that home prices are rising, can I interest you in a home equity loan at 1% the first year, and a variable rate thereafter? may we suggest you use it to get a chevy volt?

https://www.youtube.com/watch?v=gqsT4xnKZPg

Tue, 07/24/2012 - 20:05 | 2647580 robertocarlos
robertocarlos's picture

Govt Motors is investing $750 million in R&D in Canada. We only gave GM $10.5 billion as part of the bailout.

Tue, 07/24/2012 - 21:11 | 2647691 IMA5U
IMA5U's picture

Just last week JPM put out a 128 page report sahying to  BUY GM and Ford

 

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