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Posted by BuffetHater on May 27, 2009, 5:55 pm
How stupid can people be? Day trading the common, pref'd and
bonds in a sure thing bankruptcy headed to zilch in less than a
week !!!
No reverse splits, no rescue for investors, a new company will be
organized without regard to old unsecured creditors and investors,
N O T H I N G !!!!
At least 4 times today i was asked by 'seasoned investors' as to
if GM stock at a buck is a nice option on a gov't bailout. These
idiots
think GM stock will be respun into a new traded issue. IT WILL NOT
BE REWORKED !!!! THE STOCK GOES TO ZERO.
Just look at other bankrupt issues, WM (washington mutual) or
BKUNA (bank united).
FWIW i am short the common, pref'd and bonds and will ride em
down to zilch. Wish all my trades were that easy.
2morrow i sell calls, sheesh !!!
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