F - Ford Motor Company - Page 13

Textbook reversal on the last peak

Ford is not looking good (mid-long term) based on that cluster of price action on swamping volume at the last peak. That is professional selling and will keep this in a downtrend untill we see simillar volume down low. There was fair volume on the gap down, showing people (herd) ran away from their shares quickly. I would expect the bleeding to continue, be cautious of double dipping on this play just yet guys.

JMHO

I totally agree. Looks like the bottom is below 6 and I hope she goes there. I don't ever expect F to go bankrupt....worse comes to worse they'll get bought out. Don't try buying in while the knife falls....and it's going to fall hard. WOO HOO!

If it breaks 6.5 it's going to crash and burn. I think it will.

when it gets below$6, gonna keep it on radar. Flipped this one nice this year, but sold it too early for a small profit, instead of a 50% turnover I could have had.

Ford looks worth a shot at a bounce play here to me. I still think the damage was done at the peak but selling has dried up at the 50% fib/21 MA/structure support. Triple support with a tight stop is a good trade IMO.

Kerkorian sticks to $8.50-a-share tender offer for Ford stock
1:44p ET May 30, 2008 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Kirk Kerkorian stood by his intentions Friday of buying $170 million worth of Ford Motor Co. stock, even though the shares have fallen well below his offer price after management abandoned plans for profitability by 2009.

The billionaire investor's private investment firm initially made the offer on the condition that Ford's stock stay within 10% of its closing level of $8.20 a share on May 8, creating a floor of $7.38 a share for the offer to be valid.

The stock was trading up 5 cents at $6.76 on Friday afternoon.

"Tracinda continues to believe in Ford's management and turnaround efforts and remains committed to its offer," the Los Angeles-based firm said in a statement. Kerkorian waived the provision, sticking to his tender offer of $8.50 a share for up to 20 million shares

The offer is scheduled to expire at 5 p.m. Eastern time on June 9.

"We welcome confidence in Ford and the progress we are making on our transformation plan," Ford spokesman Mark Truby said, reiterating the board's stance to express no opinion on the offer.

Dave Healy, an analyst at Burnham Securities, sees Kerkorian as just making more noise to attract some attention and to help him "make a killing" on his investment.

"His method is stirring the pot and influencing management," he said. "Long term, it's a good bet, but with gas prices where they are now, I'm not so confident in the short term."

The shares took a hit last week after Ford backed away from its repeatedly stated goal of turning a profit in 2009, vowing to focus on retooling operations to turn out a greater number of fuel-efficient vehicles and fewer big trucks. See full story.

And as part of its wrenching overhaul, Ford is reportedly about to fire up to 12% of its salaried work force. See full

Breaking down further.....come to papa. Looking for another 50% gain.

Ford to cut salaried costs by 15%
4:07p ET June 5, 2008 (MarketWatch)
SAN FRANCISCO (MarketWatch) -- Ford Motor Co., following reports of imminent white-collar job cuts a week ago, confirmed Thursday that it is looking to shed 15% in salaried-related costs in an effort to get back on track toward profitability.

"There are no absolute numbers in terms of the salaried employee separations expected," Ford spokeswoman Marcey Evans said. "Each functional organization has a cost reduction target and the management of that organization is determining how to meet it in light of their specific business needs."

She explained that Ford will work toward those goals by cutting salaried, agency and contract workers, along with attrition and the consolidation of open positions.

Last week, the Detroit News reported that the Dearborn, Mich.-based company could be handing out pink slips to 2,000 salaried employees and taking a hard look at merit pay increases. Evans said the next round of cuts will be involuntary. See full story.

Standard & Poor's equity analyst Efraim Levy said he believes that the cuts won't be enough for Ford to reach profitability in 2009, a goal from which the automaker recently backed away.

"This action by itself may not be sufficient to achieve the automaker's aims if [Ford] is unable to stem volume declines," he said.

Ford on Wednesday reported a 16% drop in May U.S. sales to 217,998 cars and trucks, down from 259,470 a year earlier. The car side fared well, but trucks were slammed, with the long-time best-selling F-Series giving up its top spot to cars from Toyota Motor Corp. and Honda Motor Co. . See full story.

Ford's stock finished down 1% at $6.40.

Here comes the 5's again....

timber!!!!!!!!!!!!!!!!!!!!!!!!!!!!

You can say that again. Jesus. I didn't expect the 5's to come until next week.


Support at 5.6

what is a good price to jump in?

I was stopped on the paper long of course. That's what I get for fighting the trend, even if I intended it as a quick bounce play. LOL

$5.90 first up and then $5.70. Then the last stand could be $5.30 as I see it. Those are the next 3 major support levels IMO.

Like I said before though, the trend is down and I see nothing bullish on this play TA wise. If you're looking for a long make sure it's a play that accounts for the overall trend. The trend is to be trusted until proven broken. In a downtrend you short rallies since the moves with the trend tend to be the sharpest moves.

JMHO

thanks for the input!

I have a 1/2 position order in at 5.30 and another 1/2 at 5.

ok--will watch close--thanks

Kirk Kerkorian offer of $8.50 a share for up to 20 million shares ends monday he may low ball a price but thats just a prediction.

expire at 5 p.m. Eastern time tomorrow

Why wouldn't he slowly accumulate on the open market?

He already owns 100 million shares of common Ford stock. All of the Ford Founders have the Prefered stock. I cant see it happening but some say he may take the company over.