Like A Cock... GM/Ford Feel the Heat of Junk Bond Status...
Talk about giving up edge... then again, investing is not trading... the day after 87 year old billionaire Kerkorkian tender offers to buy at $31 a share to raise his stake in GM close to 9%, Standard & Poor, Fitch and Moody's finally drop the axe on the big autos' credit risk to below investment grade... sending prices back down in fear from yesterday's squeeze and a sizeable flight to 10 yr treasuries... who dares fund commercial paper when you know your SUVS aren't so hip-hoppety anymore when you're paying 3 bucks a gallon... of course, throughout all of this, my NYSE feed froze up again, leading me to trade on the barren wastelands of the ECNs...
posted by Lockheed Hayheehoo Macedon @ 3:54 PM
3 comments
3 Comments:
IM SKEPTICAL, SON. SHORT TERM NOISE. 2 MANY BULLS. HOLLA BACK.
View from the mountain top tells me while this number is positive, it may not be good in the longer term.....may have been too strong…just my humble opinion.... right or wrong.
Oh so unsustainable... moreover, just another excuse to remain hawkish and tight as a nine year old's butt.
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