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The Goodyear Tire & Rubber Company Message Board

  • mitchad1 mitchad1 Nov 8, 2012 6:58 PM Flag

    GT Preferred: Joann

    "Whats the ticker symbol on that GT preferred? I just might nibble at some if this thing drops a little more.................thanks. Is it convertable ? If so, when?"

    No Reply button - so I started a new thread.

    Symbol on marketwatch is GT.PA, symbol at brokerage is GT.A. It is convertible. Believe it is April 2014.

    Well, I messed up selling my CTB before earnings :( Sold the preferred at 42.32. Closed today at 42.67 :(
    Still have puts and calls on GT, but the stock is doing remarkably well during this sell-off. Not sure why as GT's qtr was nothing like CTB. Raw material rubber is still down around 134+, but that is the only bright spot I see.

    In the past I have always bought the GT preferred at 40.25 or less with a low purchase of 37.63. Current yield is 6.87%, and I buy it when yield is above 7.25%.

    Bought some puts today on market as it violated a fibonacci retracement level. Have taken off 10-15% of position in each of my stock(s) that popped on earnings - the last week to ten days. My cash position is back up to 12% and going to be buying after this sell-off wears itself out. Still optimistic for year end, but the current climate is too gloomy.

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    • thanks. I bought some of the s-p 500 fund the other day during the sell-off. I will buy a little more if Mr. market comes down more. I am not too worried about a big drop in the market here. If there is any kind of compromise on the fiscal cliff talks, this market should pop 10% to the upside. I am looking to buy back into GT soon . It doesn't look like it wants to drop much more without some news. BTW, I think everything is going to be OK with our economy. It might be slow to no growth for awhile but, I don't see a meltdown from here.As for GT i'm looking to trade thats all.

      Sentiment: Hold

 
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