General Motors ( GM ) Ford ( F )11/20/08 - Bailout

Senators in Washington are going to hold a news conference about a possible bailout agreement on the big three automakers including General Motors ( GM ) and Ford ( F ) at 2:30pm est today, 11/20/08.

Both GM and F stocks are exploding to the upside, General Motors actually hit $1.70 at one point today and is now back over $3.50 per share. Ford hit $1.01 per share and is now $1.70.

The Hogan Bottom held this morning, we bounced off the 7773 low and we are now testing 8175 resistance from yesterday which was support. Check out THESE charts for analysis. I will have a new chart tonight after the closing bell.

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