This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

5 Huge Trades for a Volatile 2013

General Motors

News that the Uncle Sam was exiting is position in General Motors (GM - Get Report) provided a big 6.6% move in the stock yesterday, pushing shares through a resistance level at $26, and triggering a bullish setup in shares. This is one perfect example of the technicals leading the fundamentals in the real world. And it's an example of a stock that could have further to run before the calendar flips over to 2013...

That's because GM had been forming an ascending triangle pattern, a setup that's formed by horizontal resistance above shares and uptrending support below them. Essentially, as GM bounced in between those two technical price levels, it was getting squeezed closer and closer to a breakout above that $26 resistance level. Yesterday's news gave traders that breakout.

Obviously, GM is a good distance above that resistance line thanks to the gap we saw yesterday, ramping up the risk a little today. And sure enough, we're seeing a bit of a throwback early in this morning's session. That's not necessarily a bad thing -- $26 is the nearest support level for shares, so if you're looking for an ideal place to buy GM here, I'd recommend waiting for the next bounce higher.
2 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
GOOG $693.01 0.00%
GM $31.80 0.00%
JNJ $112.08 0.00%
MRK $54.84 0.00%
T $38.82 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs