RunawayTrader

Adventure Travel Meets Online Stock Trading

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Day Trading on the Road, away from it All

June 28th, 2009 · Runaway Trading, Stock Trading

One of the nicest things about being on a road trip is that I can easily avoid the media circus surrounding the death of, well, you know who. I only wish somebody would cut me a check for, say, a penny a paragraph devoted to this freakish icon. I could easily quit my day trading gig and retire to some castle in Spain with a harem of impossibly nubile young playthings.

Maybe you like the Chinese water torture way most of the media frenzies play out. Drip, drip, drip … the doctor is questioned … the body is moved … he’s too ill to dance … his horrible finances … his stomach is pumped frequently …what will his kids inherit. Every hour a “stunning” new revelation. Ad nauseum.

Tell you what, media guys, take a week off, then write me a short summary after he’s in the ground (or wherever they send garrish pop stars) . That’s all I need. Say five or ten paragraphs.

Me? I’m glad I’m away from the media. I’m telecommuncatively close enough to know but far enough away so I don’t have to follow the drip drip of Michael, Farrah, and now Billy Mays. Besides, I’d rather make a few bucks and see the country, eyeballing the likes of this view shot of the Pacific from somewhere west of Grant’s Pass, CA on the road to Eureka.

Today, I’m loafing with my #1 son in Mountain View, home of Google and near the heart of Silicon Valley.

According to the Wiki folks, that “silicon” term originally referred to “the region’s large number of silicon chip innovators and manufacturers, but eventually came to refer to all the high-tech businesses in the area; it is now generally used as a metonym for the high-tech sector.”

Natch, Marty’s in the midst of building his own high-tech, social networking empire (Fanchatter.com), and this is the place to do it.

In any event it’s a nice place to camp out. I may backtrack to San Francisco, Sausalito, Palo Alto and the like, but I leave tomorrow for Boulder City and that big dam.

Monday’s Stock Market

Darned if I know what’s going on in the market. I’m expecting a tepid start and that means real guesswork as to where to place your bets. If I get a pullback from BIDU, I may buy some shares. But otherwise, nothing stands out. And since I can’t (or won’t) turn on the TV, I’m outta here to make my way slowly back home via Hoover Dam, the Grand Canyon and the Rockies.

—Charles, the Runaway Trader

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Hi-Speed Internet and Runaway Stock Trading

June 27th, 2009 · Runaway Trading, Stock Trading

You learn a lot when you day trade on the road. Markets do funny, yet oftentimes predictable things and there’s a lot of fibbing going on in the world of in-room Internet service at the nation’s motels.I learned that latter point the hard way. You can profit from my experience.

I’ve stayed at a half-dozen motels in recent days, from dirt cheap to a tad pricey. And I’ve learned that all motels claim they’ve got Internet, but it’s not true. And the price you pay for a room has little to do with good Internet reception.

Having said that, I won’t mention motel names or prices, since they are meaningless indicators. What might prove true at a Quality Inn in one city, for  example, may not be true in the next. Still, here’s the lesson:

If you absolutely need good, dependable Internet on the road, always check the signal in your room before you do anything. Leave your luggage, your wife and your cat in your car. Carry your laptop as a divining rod to check for signals first.

Twice I’ve been packed into rooms where the signal was so faint it barely appeared in my sniffer (with a 1-bar rating), and that means you won’t have a signal strong enough to communicate. And that means, if you don’t follow my advice, you’ll have to carry all your stuff back to your car while you try another room. By the end of the ordeal, you’ll feel like you work for Two Guys and a Truck.

At another motel here in Crescent City, I tried several different rooms to raise a decent signal without success. I went to the lobby to cancel my room and here’s another couple there with the same problem. See? They say they have Internet, but it’s patchy as hell. Be forewarned. Check out their signal first; unpack later.

Now, about Day Trading

Since it’s pretty hard to make stock trades traveling at 70 miles an hour, I have to rely on all of Ameritrade’s fancy trading gizmos to trade effectively. Here’s an example. Thursday, I set a buy for First Solar (FSLR) at $160.40 before open. The stock was headed up and I doubted I would get a fill. But, during the day the stock got a downgrade and my order was filled late in the and the stocked closed $159.48, almost a buck below my point of entry.

The next day, I was thinking it would bounce back somewhat, so I entered a trade trigger: When (and if) the stock hit 161, my trailing stock would kick in at a half-point down. On the road, I mused I had set the margin too thin, but I was right the first time. The trailing stop was executed at 161; the stock rose to $163.88 and fell back to $163.30 where my sell kicked in.

Nice trade. Earn enough to pay my way back through San Francisco, the Hoover Dam and the Grand Canyon. That’s how it’s supposed to work.

Charlie, the Runaway Trader

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Weather: Beautiful; Vistas: Terrific; Day Trading: Magnifico!

June 24th, 2009 · Runaway Trading, Stock Trading

I got an early start out of Billings on Wednesday hoping to wind up somewhere near Seattle. I got west of Spokane, but had to settle for a layover in Ellensburg, WA.It’s been a long time since I was in Montana, where I spent much of the day driving. The western part of the state is so beautiful I found myself singing God Bless America, Kate Smith’s old theme song. Really, I don’t mean to sound trite but the mountains and cattle ranges are truly majestic. No other word quite fits that kind of beauty.

While I was skimming along I94 (and I90) with my cruise control fully operational at 75 mph,  I was largely oblivious to what was going on in the markets even with my G3 or netbook. Accordingly, I placed limit orders on stocks I bought on Monday: WYNN and FSLR. First Solar came back Wednesday the stronger of the two, selling at 172.5. It actually hit 174+ but I wasn’t there to raise my asking price.

I had a sell on Wynn’s at 37.10, but it only managed to grind out $36.88 so I’m still holding shares. I’ll catch the premarket open and if the  indexes are up, I’ll reset my sell; if not I’ll dump. Either way I’ll make money.

Wi-Fi is Everywhere

I have one other note.

When I first started this blog several years ago, it used to be a big deal to find a hotel or motel with Internet availability. That’s all changed, now, so I’ll have to update my badly obsolete copy.

Actually, Wi-Fi and high-speed Internet are available in even the smallest hamlet these days, since I see motel outdoor boards emblazoned with “Hi-Speed Internet” partically everwhere. Just goes to show you how quickly things change.

I’ve got Ethernet in my motel room here at Quality Inn. But there’s wi-fi in the lobby. Great for hooking in with my iPhone.

Well, I’ve got to get something to eat. Then up early for the markets and then a leisurely drive into Vancouver, B.C.

Charlie, the Runaway Trader

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Have Laptop - Will Trade and Travel

June 23rd, 2009 · Runaway Trading, Stock Trading

By the time you read this I’ll be well on my way to Miles City, Mont., and all points West. I’ve got my laptop. My 3G iPhone and Handicam and enough ambition to drive myself and my trusty VW to some terrific landmarks that I’ve yet to visit.

And I’m certainly not short cities and sights to browse. Nearly everybody I’ve talked to adds some little-known hot Charlie Wetherall is off to trade and travel out Westspot that I should visit.

Vancouver B.C. Ashland Ore. Boulder Dam. Grand Canyon. The Lincoln Highway, Ghirardelli, Fisherman’s Wharf, and all and on. And if you’d like to add your two-cents on sights you think I should see you can email me or drop a comment on this blog.

I should say that I’m in no hurry. But since I can travel no farther than my stock trading will support me, I’ve got to mind my Ps and Qs—and this week is off to a rotten start. Thank heaven, then, that I made all the pin money I’ll need last week with nice runups by WYNN and BIDU.

Monday, however, I was caught with my pants down. While the market and my traders were tumbling like a boulder down Mt. Rushmore, I was locked in a client meeting. And since I’m the kind of guy who directs my full attention to the client, I don’t follow the market, nor text, nor answer telephone calls.

Still, I think the loss will only be temporary. I  left my trades GTC and - sooner or later - they’ve got to strike pay dirt.

Meantime, wish you were here and all that blather. You can follow my runaway on this blog,  on Twitter (Twitter.com/runawaytrader), or Flickr (http://www.flickr.com/photos/runawaytrader when I’ve got some pics to post.

Good luck trading and write when you get work.

 

–Charlie the Runaway Trader

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Day Trading on the Road? Why Not? It’s Really Here!

June 21st, 2009 · Runaway Trading, Stock Trading

I am, of course, todally amazed. All this time I’ve been bitchin’ because cellphones and PDAs were so far behind day trading times, and then behind my back, they play big-league catchup, the techno equivalent to Miracle on Ice.

 

Just a year ago I expressed skepticism about how far technology has taken us from placing trades through brokers on land lines. It really doesn’t seem that long ago. But it was. About 20+ years ago.  And the technology has raced ahead, sometimes without me, at incredible speed.

 

Well, faithful readers, I purchased my new Apple G3, downloaded iStockManager for the iPhone, and voila, all that iStockManagerstuff I wanted, that I needed, is right there before my beady eyes: streaming quotes, tick-by-tick stock charts, news, indexes, the whole megillah. It’s hard to believe. It’s like Steve Jobs tapped into my secrets day dreams while the surgeons frantically switched his liver. They’re both, when you stop and think about it, miracles. Really.

 

The screen capture on the right doesn’t do justice to the real deal but you get the idea. If you look closely on the toolbar, you’ll see Level II, Chart, News and Chain (for you folks who trade options). Anyway, I placed a trade over the weekend as a test (100 shares of WYNN x $33.33) just to see it work and it was almost flawless. Actually, the fault was with myself since I’m not used to trading on such a tiny keybord. (P.S. Wynn’s imho we’ll see $45 before it sees the $33s again).

 

As marvelous as the iPhone might be, the phone would be useless to traders without iStockManager an app that neatly displays those nuggets of information that true gamblers like me really need.

Monday will be a better test when I place (or follow) trades I’ve made at the open. And then Tuesday, I take off for Portland, Ore and the West Coast as far south as Silicon Valley, then east to Las Vegas and the Grand Canyon. Yeah, I’ll make some of the usual tourist stops since I’ve got nothing but time and day trading on my new Acer 10 and Apple GS will keep me in pin money. I’ll trade and tweet along the way.

Charlie the (hot-wired) Runaway Trader

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Apple, AT&T, and a Cautionary Tale about Security Freezes

June 20th, 2009 · Runaway Trading, Stock Trading

Friday, I headed to a nearby mall long before most of the stores opened to buy my new 3G phone from Apple. It was almost an all-day affair, and perhaps there are a few lessons to be learned by all involved.

I thought had everything I needed when I arrived. Apple told me what to bring:

Social security card. Check.
Photo ID. Check.
Credit card. Check.

Fortunately, lines were short at the Apple store; I had to wait maybe 15 minutes. But then the trouble began. As my tech guy Peter tediously plugged in heaps of data into his itty-bitty computer gadget, I patiently waited. After about 15 minutes a mysterious request (nay, demand) from AT&T:  I must pay $500 in advance for their service. Why? I asked. Because I had “no credit history.”

No credit history? I incredulously asked. For pete’s sake, I’m old as dirt. I’ve got a good credit history that stretches back decades. I asked Peter to try again. He did. I’ve now wasted about 45 minutes only to get back that same painful refrain: No credit.


Then it dawned on me that I’ve got a security freeze on my credit reports. In case you’ve never heard of such a thing (it’s not offered in all 50 states), a security freeze prevents anybody from accessing your credit reporting agency (CRA) records. So … if somebody swipes your identity, they can’t open any new accounts because the CRAs won’t release the information necessary to do so.

By and large it’s a great tool. It’s a felt relief knowing that some hacker in Nigeria or Turkey isn’t going to rip off my identity and run up costly charges all over the world. On the other hand, I can’t open any new accounts with lifting the freeze. That’s easy to do, but you’ve got to do it before you hit the showroom floor asking to buy that BMW Z4.

I learned that the hard way. Now, I didn’t try to buy a Z4, I tried to open a savings account online, only to be rejected.  Same deal. They can’t verify your SS# since that, too, is frozen in CRA databanks. No SS# verification and I can even give money to the banks. In fact, I can’t even get my own credt reports from www.annualcreditreport.com, the one place on the Internet that actually provides free (once a year) credit reports from all three CRAs.

Well, I wish Apple would have alerted me to the fact that I’d needed new credit not to buy the iPhone, but to hook up with AT&T. I could have lifted the freeze several days ago and saved myself all this grief. I thought I could just put the whole thing on my credit card.

So, now I return home, call AT&T and ask them which credit reporting agency they use (Equifax), call Equifax, lift the freeze and head back to the store where we try again. Same damn result.

Now the Apple folks march me over to the AT&T office where I get into another line, wait another 20-30 minutes, and try again. This time, my polite, white-shirted agent Jenni try again. Omigod, same result.

This time, however, I’ve armed with my latest Equifax credit report  and my TransUnion report (both 800+) and demand that AT&T get this damn account open since I’ve spent nearly 3 hours trying to do so. It takes a supervisor at AT&T to manually override their software and approve the account.

Now, I should point out that everyone at Apple and AT&T was terribly polite and helpful throughout this whole ordeal. Still, security freezes are part of the credit landscape and will become more prevalent as ID thieves get bolder and more successful. In other words, businesses that offer credit must become more proactive in warning would-be customers that a credit check will be performed and to make the necessary arrangements.

In the meantime, I’ve got my new iPhone. I’ve downloaded a few apps, especially my Ameritrade trading platform, and I’m ready to split this pop stand for all points West.

 

Charlie, the Runaway Trader

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Charlie the Cellphone Luddite Finally Gets With It

June 14th, 2009 · Runaway Trading, Stock Trading

Future Shock, you may remember, was that bestselling book published in 1970 and written by futurologist Alvin Toffler. Toffler pointed out in this work the crushing problems presented by modern technology and specifically the psychological disruption of individuals and societies in response to rapid technological change. Future shock is, according to Alvin, “too much change in too short a period of time.”

Frankly, psychological jarring has not been much of a problem in my life because I usually sample all sorts of new technologies as an early-adopter. Except - and I am reporting today — the smart phone harnesses me with future shock. Too much, too fast. In this slice of technological life, I’m definitely a bush league, Johnny-come-lately. The opposite of an early adopter.

An early adopter of course, is a person who eagerly buys or tries out new hardware items and programs, and new versions of existing programs, sooner than most of their peers. According to the “Diffusion of Innovations” theory of how, why, and at what rate new ideas and technology spread through cultures
early adopters make up 13.5 percent of the population. 

I used to be one of those guys . . . an “innovator.” For example, I picked up my first hand-held calculator sometime in the 1960s long before they became cheap and popular. It cost me $125 (Texas Instruments), like about a week’s salary for the average Joe Dokes. Nowadays, they give these things aware free with your checkbook and the Internet is virtually awash with free online number crunchers.

Same Deal for Computers

When personal computers first came out in the early 1980s, I knew I had to own one since I didn’t want this fast-moving technology to leave me behind. It really simplified many chores in the book publishing company I had recently founded. My escapades in the stock market hadn’t been born yet.

As an “early adopter” I bought an IBM PC. It cost me $4,500 (can you believe that?) including software. That’s about $6500 in today’s dollars. It was devoid of a hard drive but was capable of manipulating a mind-numbing total memory of 128K (that’s 128,000 bytes, about enough bytes to completely circle the tip of a pinhead. But gee whiz, as an author, I could almost put a whole book on one 4.5-inch floppy drive. Yippee skippy!

I’ve been though, perhaps, a half-dozen computers since then each bring with it a new wave of capabilities and stuff I am literally forced to learn. And by way of techno-shock, the HP desktop I’m using to post this message cost a measly $500 and features 325 billion bytes of memory. That’s how fast and how far we’ve moved.

Even my new tiny Acer netbook cost a trifling $350 delivered and is more than a million times more powerful that the breadbox-sized IBM PC. No foolin’. This little puppy can probably hold a dozen or more encyclopedias, a director’s cut version of Debbie Does Dallas, with space left over for any book I might write about day trading on the road.

“Mr. Watson — come here — I want to see you.”

All of which brings me back to the cellphone. I mention it today because I’m planning for my forthcoming Runaway Trading mission to all points West and I needed a new cell phone to maximize my on-the-road trading. I’m stuck with one of those ancient gizmos that does little else by make phone calls and snap pictures. How todally dorky. It’s the technological equivalent of disseminating this blog on a Smith-Corona.

I’ve written many times about cellphones falling short of the demands of active traders, and that’s why I’ve always relied on my laptop for serious trading. But I finally have rethought my Luddite propensities.

Turns out that folks like ETrade and TDAmeritrade have specially-built trading platforms for Iphones and most Blackberries. And since Apple just released their G3 phone, I succumbed to the constantly needling I get (with some justification) from my son (host of FanChatter.com), who rightfully scolds that if you’re really going to be a RunawayTrader, you’ve got to get with it and buy the latest technology to do so.

When my new smartphone is up and running, I’ll issue you a report on cost and benefits. And if you can to share your experiences with smartphone stock trading, please share.

Which brings me back to my original point: technology is moving so fast that you have to join in or it will leave you in the dust, groping to understand the changing world around you, whatever your occupation. Without a certain modicum of new age technological knowledge, the world will be speaking in techno-Babel while you sit in your cell and nurse visions of the “good ‘ol days.”

Well, enough is enough. This week, I finally join the ranks where most of you have marched for many months. Now if technology could only straighten out this sagging market and bring peace to the world, I’d be happy.

-Charlie, the Runaway Trader

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What a Dippy Day for Trading

June 11th, 2009 · Runaway Trading, Stock Trading

I don’t know about your stock streamer but mine is bleeding today, especially my favorite trades.

Yikes! Even though the Dow is dancing up around the high double-digits, my day trading stocks are all underwater. Makes me glad I’m sitting on the sidelines while the market sorts out this paranoia. In my HO, there’s no better way to lose money than to jump in a market which doesn’t know where it’s going.

Meantime, my long-term stocks are doing much better with the majority of them following the indexes. Of particular interest in US Steel and Conoco Phillips. I bought more COP after they delivered me a fat dividend check last week. The stock is up at least $10 from my recent entry point. US Steel is up at least $15. I bought them both in late March and April.

Unfortunately, some of my long-term trades are still underwater, including Lennar, Hartford, and Fifth Third Bank. Well, wait’ll next year. They should come back by then (he said hopefully).

Still Crazy (really) about WYNN

I’m watching Wynn’s sink into a slimy abyss, expecting that it will soon make its turnaround. Although it’s been as low as 20, I’m thinking that 35-something will be the point at which it’s safe to enter.

The analysts and the technical guys seem at odds over whether this is a good time to enter. Hence, I use my own judgment. And that’s buy-buy-buy when it falls another point or two. It’s above it’s 50-day moving average, but below the 200-day. Pick your poison.

Now, I’ve got to get my VW services for my forthcoming road trip.

 

Charlie, the RT

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This is a Sucker’s Market

June 10th, 2009 · Runaway Trading, Stock Trading

I used to get miffed when the market slipped into the financial doldrums as it has lately. The recent rally and others like it  lull you into thinking how easy it can be (sometimes) to make money in the market, only to set you up for a crushing comeuppance. But over the years I’ve come to recognize that these are the times for opportunity in the making.

As traders, we want to get the most “bang for our buck.” And to make that happen, we use the Internet to gather the best intellgence and then add our own good sense honed by years of trading. All this in hopes of finding the best entry points for stocks we think will behave predictably (as in “U-P”).

Unfortunately, gauging the future performance and the right price of a company’s stock isn’t as precise as, say, calculating the averge per-mile cost of a road trip across the U.S. (more on that in a minute). The market, after all, can be playing its own cruel game of “hide-and-soak” and if you don’t believe me, take a look at what the Dow has been doing the past five days.

That’s the typical roller-coaster crap that happens when the market’s real direction is down—but traders at the open sucker you into buying into the upswing—only to be overwhelmed by trading sellers. And of course, neither the Dow, nor stocks, fully recover.

I decided today to stop chasing and wait for the right opportunity to dive back in, since I know a turnaround is coming. Take Wynn’s, for example. I’ve been chasing this stock as it drifts lower and lower. The only reason I haven’t been losing money is because I double-down to double my bet but reduce my average cost per stock. Each time I’ve been able to salvage the losing trading, or nearly so. Take a look at Wynn’s curve and you’ll see my problem.

 

And WYNN isn’t alone. All my favorite stocks are playing unpredictable games: FSLR is backpedaling. So is BIDU and GOOG. To me that suggests there’s a correction going on, however mild or mean it will become. So, I’m not trading. I’m looking. Any one of the above-named stocks will become an excellent buy. And me? I’m still waiting for a 10-point runup by WYNN. Trust me. It’s coming. In the meantime . . .

How about a Road Trip ?

Admittedly, I’m no twenty-something kid who wants to “see the world” before settling down to a four-year stint of college homework, but I do have a yen (again) to get out of here. This time, I want to take a road trip. My son and I took a tour of Yellowstone and the West some years back, and now I’d like to head out again for a few weeks. This time I want to visit the Yakima Valley, Seattle, Portland, and then down the Pacific Coast Highway from one end to the other with a stop in Silicon Valley where my #1 son is busy cracking the code for a novel, new social networking site.  On my way back, there’s the Grand Canyon and a few other sites I’d like to take in.

I’ve got a couple of items to take care of first, but around July 1 I should be ready to roadie. I’ll be carting along my little Acer netbook, which I’m likely to outfit with a new laptop card.

In the meantime, hold your horses on getting in too deep in the market. Sit back. Take a deep breath and wait for the fireworks to happen. Tomorrow, and the days after that, is another day. But I guess you’ve heard that before.

 

Charlie, the RT

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Will You Buy GM Stock? Would You Buy a GM Car?

June 1st, 2009 · Runaway Trading, Stock Trading

Now that General Motors’ ignominious disgrace has been publicly recorded in a historic bankruptcy, three questions have emerged for you to ponder. Here they are:

  1. Will this bankruptcy mark the beginning of a new, more prosperous era for GM or was Monday’s filing just a blip on the automotive highway to eventual oblivion?
  2. Closely related is this question: Are you going to buy GM stock when it is issued?
  3. And finally, will you buy a GM vehicle, now or in the foreseeable future?

Charlie’s Take on GM’s Past and Future

 First, a confession: I haven’t bought a vehicle from the Big Three since the 1970s. When I was a teenager, I owned a  lot of second-hand junk. Decades-old Plymouths, Chevys, Mercurys, etc. But when I started making money in radio, I started buying new cars: a Corvette, a Pontiac Bonneville (a panty-peeler if ever there was one), and a Mustang or two. Trendy, sexy, but nevertheless, poorly made (the failures of these vehicles would fill books, not columns). Still I admit, I enjoy them all. That’s what youthful exurberance will do for your brains. That and roomy back seats. Check out the cavernous rear bedroom in my 1960 Bonnevile, like the one on the right.

Then in the 1970s, I vacationed a few times in Hawaii. As you know, Hawaii has prinstine beaches, idyllic weather and an abundance of exportable pineapples and sugar cane. But it imports by cargo boats practically everything —including expensive gasoline. And the car rental agencies, then as now, featured gas-pinching Japanese Hondas (small wonder given the huge numbers of Japanese who live there), which I rented for three winters straight. It was a insightful epiphany. I was truly amazed at the high quality and superb workmanship of these vehicles. And I wasn’t just driving over the Pali, that well-paved scenic highway that connects Kailua to Honolulu. I was driving on lava roads so bumpy they post signs saying your rental car insurance will be cancelled if you drive on them. And even though I ignored these cautionary signs, Honda clearly proved it was not just a car better built than anything Detroit had to offer, but it was, quite frankly, the sturdiest, most dependable, most  economic car I had ever driven before from anywhere on the planet.

Millions of Americans got the same message over time, although they probably didn’t fly to Hawaii to hear it. The Japanese were making wonderful cars while the Detroit automakers were producing crap. And Honda and Toyota weren’t alone, There is Saab, Audi, Volkswagen, and more. Foreign cars were simply better built vehicles. An impressively better value for the dollar. Beautiful as my ‘59 Corvette was (at left), the engine literally fell apart the first day I drove it, a mere prelude to over a year of grief which this car delivered to me.

Which is not to deny that American automakers didn’t greatly improve the quality of their products since the 70s. They did. But I’m happy with the foreign cars I’ve owned so why change? Especially since the spectre of another, future bankruptcy still hangs heavy over both GM and Chrysler.

I’ve owned a string of so-called, “foreign” cars: Hondas, a Mercedes, a couple of Opels, and now a VW. I’m sure I’ll buy another new car in a year or two, but it’s unlikely it will be what we used to call an American car, though who knows there foreign cars are actually “made” these days. and there’s always the question of whether any of the  Big Three left standing to make them.

As you might have surmised by now, I’ve already given you my answer to the opening quiz. .

  1. I’ll probably never buy another Detroit auto product as long as I live.
  2. For the same reason, I think the government bailout/bankruptcy is merely a boulder blocking GM’s path to a rosy future. It will never happen. Ford, Honda, Toyota, and the rest will eat GM’s lunch, now and in the future.
  3. And will I buy GM stock? Of course not. I already own Ford (up 44% since I bought my shares). And that’s probably one more auto maker stock that I need.

OK. I’ve spoken my piece. So what are you going to do?

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