Stock futures slumps for more than 1% in Asia market today. Also, GM got an inside day here;
Yesterday it tried to break the 45.00 fig level and the bearish bat but failed, if the bulls are able to break the inside day, the momentum probably is able to takeover the size.
Generally I am quite bullish in GM as it's ridiculously cheap with 6-7x multiples and solid dividends, so I'll skip the set-ups to short.
While, with regard to the potential gap down (with the market), the 1st point for this trade is to see if the inside day low 43.35 is broken. If not, that means GM shows great relative strength against the market, which is great for this trade! If it breaks the inside day low before breaking the inside day high, this trade doesn't exist anymore.