IvanLabrie
Long

GM: Daily view

NYSE:GM   GENERAL MTRS CO
GM             is an excellent company to own for the long term. That being said, outside of a core long term position in it (something like 10% is perfectly fine), we can also trade and profit from volatility, both on the long side (adding trades with trailing stops, and adding to winners) and on the short side (selling calls against our long term longs to profit from corrections).

In this case, after today's news, we see that the daily has flashed a 'Time at mode' uptrend signal with a target at 39.57 that has to be hit before January 31st. Since this uptrend's time duration expires just before earnings, it might be wise to reduce your exposure to GM             approaching the target, and date, or to at least hedge your downside to protect profits by selling calls. In the case of earnings sending prices way higher, this would ruin the upside, so, the alternative is to start trailing stops periodically (at least on your non-core-long term positions) to reduce risk.

Good luck!

Ivan Labrie.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out