Saturday, November 20, 2010

The First Trendline and Resistance for GM

Too Funny.
From StockCharts:

Even though there is not any real historical data for GM, keen chartists can start with the 1-minute and 5-minute charts for the first technical signals. On the 5-min chart, GM is clearly in a downtrend as it trades below the trendline extending down from 10:45AM. This trendline and the small consolidation mark resistance around 34.4-34.6. In mission impossible style, this commentary will self-destruct in 10 seconds. 10,9,8,7...

 As one of the great (24%/year career avg.) money managers said:

I don't think one should be a long-term holder in government securities, 
particularly government equity securities."