Ford, GM, Bleed Red

Shares of Ford Motor (F) have spiraled down after the company reported the loan of $18 Billion dollars to pay for short and mid term financial obligations and company operations. The stock is down almost $.40 or over 4% trading at a 3:37 PM EST real time last of $8.16. Volume is closing in on 34 million. Technically the stock has fallen through its 50 Day Moving Average Support, so look for support at $8.

If you go and look at General Motors (GM) you will find a similiar story today as the stock is down nearly 3% trading very close to $30. Real time last tick on GM is $30.35 on volume of 11.6 million, and has a low on the day of $30.15. The stock has fallen over 10% since less than two weeks ago.

More on this topic (What's this?)

GM Death Watch (Option ARMageddon, 11/10/08)

The Missed Issue in GM Bailout Versus Bankruptcy Debate (naked capitalism, 11/12/08)

GM Tells Us Why They Need to Be Saved, on YouTube (naked capitalism, 11/16/08)

Read more on General Motors at Wikinvest

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