Ford had a gain of $.11 for this past week. Very good considering the great run it has had over the past few months and considering the low volume (taking a breather to consolidate), doomsdayer predictions of breaking bottom support of $13.97 and going lower, and OPEX. $14.32 still remains as the next major resistance point on the upside.
After F finished flat on Monday with Mullaly's bullish comment, something just doesn't smell right. Don't know if it was market maker playing it for opex pin or the big fish decided to wait and see earnings before buying more OR selling. Beware, drop in earnings YOY for 4Q might get headlined without much, if any, disclosure for the 4Q'11 one timer. I saw a recent article by Bloomberg which subtracted it from 4Q'11. Can't believe I'm sitting on the sidelines but wishing the best for those longs on the field.
Your statement "Can't believe I'm sitting on the sidelines but wishing the best for those longs on the field." Surprises me. I thought I've seen you post "Buy with both fists..." many times. What gives?
CEO's bullish comments are already old news IMHO and reflected in strong rises previously with high volume. I DO believe that accumulation has already occurred, OPEX had "something" to do with it, dropping in YOY earnings is a nonevent that will be played up by bears ... but, means nothing to the big players that influence the PPS, the low volume of past few days did not indicate any rush to sell, and that predicted "high volume selling" that never happened indicate a "wait and see" attitude.
Providing the earnings report is reflective of the CEO's, CFO's, and COO's comments ( I have enough faith in these guys that they would never had made their positive comments and raised the dividend if there were to be any negative surprises in the earnings or conference call - actually, I expect some upside surprises) ..... there should be another substantial leg up. If earnings beat (which I think will be done easily) and guidance is positive (I think it will be), there's not much to be said "factually" that is negative.
The reason I hold further out call options (June and September) is to allow for any short term drops (profit taking) and have time on my side for the quick recovery of PPS.
I'm still looking for high $15's or low $16's by June.