General Motors (GM) fell $1.13 to $22.61 for 4.76% loss on the day. GM now sports a dividend yield of 8.2%. I would sure like to know what Kirk Kerkorian is thinking now. He obviously is not a happy camper.
I wonder if GM's problems will accelerate if or when the stock hits the teens.
Dick's Sporting Goods, Inc. (DKS) had a gone day today, with a $3.00 up move to $33.75 for a 9.76% gain. My timing on purchasing DKS was sub-optimal, but I am happily back in the black now.
My bullish spread on EnCana Corporation (ECA) is under water so far. I was unsure of my timing and I might add to my spread in the near future. I am still mulling that one over.
I noticed that Jim Cramer's Mad Money plug on Capstone Turbine Corporation (CPST) yesterday certainly worked wonders. The stock rocketed up $1.13 to $4.29 for a 35.76% gain. Its volume was 68.9 million shares versus its normal volume of 7.8 million shares. I have not been a fan of CPST, but if Cramer's thesis works out, then CPST will rocket further. But I am going to take a pass on CPST.
Disclosure: I am short GM shares and long Dick's Sporting Goods shares.
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