SOLD -350 F @1.97

Ford has been stuck around the \$2 for a while. Even yesterday's S&P500 +30 point rally failed to push it above its 10 day MA just above \$2. So I'm exiting this position to clear some chips off the table.

I bought these shares at \$2.09 nine days ago. This is a loss of \$42 + \$10 commission.

[caption id="attachment_1083" align="aligncenter" width="500" caption="Ford"]Ford[/caption]

Posted 29 January 2009 in stocks.

BOUGHT +350 F @2.09

I've taken a small position in Ford (F) to try my luck on an Obama rally. We broke below 830 support on low volume this morning without some real panic. VIX was about 52 compared to about 55 on Thursday when we tested 817. Furthermore, I actually like Ford as a company because I drive one of their cars and is quite satisfied with its value. Going forward, I think offering "value" will be the key to the big 3's survival.

In terms of the technicals for the short term, we have a positive divergence with the Stochastic and CO on the charts on this retest of \$2 with F. I have a tight stop at \$2.00. So this is just a small dip in the water.

[caption id="attachment_1063" align="aligncenter" width="500" caption="Ford"]Ford[/caption]

Posted 20 January 2009 in stocks.