GM-Big Trouble in Government Motors

Take a look at the charts, GM is now trading below their IPO pricing meaning most , more likely all hedge funds that bought into this are at a loss.

 You might get your feet wet here or wait for  bounce or a phased approach of both. This seems like a trade that has gone very wrong.

There's not enough history for a daily chart as the 3C look-back period is too long, but the hourly shows nothing but bad stuff, TSV concurs and volume tells the rest of the story. When window dressing comes along, who's going to want this turd on their prospectus?  I'd get my toes wet in GM right here, but not swinging for the fences just yet, there's likely to be an orchestrated bounce to get out at IPO levels.