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Last week I said “GM – back off.  Obama is pushing autos in to bankrupcy to benefit unions.  Run, do not walk – even short term on this one.”  Last Tuesday traded about &_#36;1.85; now so far a low of &_#36;1.09.  Too dangerous to play.  This is going to zero.  If you can short it, and you know what you are doing, you are likely safe with a modest short.  I would stay away from the options, as they are overpriced from what I can see.  Look at the JUNE &_#36;1 PUT – Priced at .54!  You can only win from a real short here. 

This news on GM:  GM shares fall to 76-year low after execs dump stock 

This stock is going to zero.  The employees and the debt holders will own this, along with CEO Geithner.

WFC hit 28.45 on Monday.  Off today, but I alerted on the show at less than &_#36;13.

 

DON’T GET TOO COMFORTABLE – WE WILL SEE THE 7000′S AGAIN.  JUMP IN WITH CARE.

 

Don’t believe this:  Oil above &_#36;59 on signs US recession is easing

I think they are wrong.  

BANKS – Holding off another week.  I think too many people are jumping in.  Let’s let some of the hype shake out.  I did say I would consider them this week, but too many people took the lists from the stress test as lists of stocks to buy and run up.

NATIONALIZED HEALTH CARE – What stocks are going to benefit?  This is going to turn into a major buzz, as the Administration thinks now is the time to push it. Get ready.  I have no list here yet.  Watch out for promoted stocks claiming to benefit from a nationalized system.

Akorn, Inc.(NasdaqGM: AKRX) <<< up already, but this is a great story.  It is a buy below &_#36;1.10.  Now, smart money would see if the recent run-up falls back a bit.  Might be good to just put a limit to buy order in at maybe &_#36;0.95.  If it hits it hits; if not, that’s fine.

TEXTRON INC (NYQ) – • J.P. Morgan upgrades Textron at MarketWatch (Tue 7:54am)•Textron upgraded by JP Morgan

Briefing.com (Tue 7:13am)