00:00We'll start with GM here. So if you guys remember, General Motors yesterday morning reported
00:06earnings. We said the earnings were pretty good. I mean, they beat on EPS and sales,
00:11but the stock was trading lower in pre-market trading. And we were like, oh, I mean, GM did
00:15this last time. They reported good earnings. The stock went up and then it got crushed. It ended
00:20up going down on the day. Yesterday, it started off in the red. People ended up buying the dip
00:26on it. So yesterday, it was trading. We got up to around $53.50 yesterday, closed up $4.80. So
00:36ended up closing up 10% after, again, trading red in the pre-market session yesterday. So
00:43a pretty wicked reversal yesterday in GM. It's a nice pop. We talked about this
00:53when it pulled red. I was like, the earnings were good, but typically what GM does is pop and drop
00:59on the earnings while they pull the rug out. And this has been an earnings season where you have
01:03seen wicked reversals on both sides, where some stocks, you know, they pop and they drop and they
01:09pop again. It's been a wild, wild earnings season. But GM obviously reported it was good numbers. We
01:16talked about the show and being good numbers, but then the stock obviously gave all those gains
01:19back, was up at $52, went down to $49 in the pre-market, actually in the $48 handle, I think,
01:24in the pre-market. And then they didn't have any of them in the regular recession, just started
01:28buying it hand over fist and couldn't stop buying it. Similar to what the banks did, actually.
01:33The banks, remember, Joel, on their day, a couple of them popped, then gave it back like they
01:38typically do, and then they popped them again. So reversals all over the place.
01:45Yeah. A couple of things to say here. Do you think this is a Trump stock or not?
01:52General Motors?
01:53Yeah. Remember what he said about Detroit? Did you hear what he said when he came to Detroit?
01:58What'd he say?
02:00He said that if he didn't win, the rest of the country was going to end up bleak like Detroit.
02:06That's what he said. That's what he said to the Detroit Economic Council. But anyways,
02:13big old move. Is this a breakout or a fake out? And we're just going to have to wait
02:18just for a couple of days here, because this hasn't been over 50 since early 2022.
02:26So it's got to establish a bid here. It has to look like UAL. UAL kept on going, right?
02:34And now it's consolidating. It had the big up day a couple, that UAL, man, I put the
02:39warning out on here, but it's really important for GM. I know it's down 8 cents. It's just got
02:45to say, hey, we're going to establish a bid here above the breakout level, and we're going to keep
02:51on going. So keep an eye on yesterday's high, keep an eye on the mark. I think that's really
02:56important for GM here. So looking good for the Motor City. I'm glad to see that. And I told you,
03:03Dana's been working there about a year, and you can see what the stock has done over the past
03:07years. So I'm very happy for that stock.
Comments