General Motors GM - Ford F - 12/01/08 - Bailout Talks Resume

Focus shifts back to the big three automakers this week as General Motors ( GM ), Ford ( F ), and Chrysler LLC are preparing to report back to Congress for the second time in a month.

Due Tuesday 12/02/08, the big three automakers will present a plan to the Democrats in their last attempt to get a bailout before seriously looking at Chapter 11. On Wednesday, 12/03/08, these three companies will be grilled by the Senate during a hearing followed by a hearing with the House of Representatives on Friday, 12/05/08. If everything goes well we could be looking at a bailout during the following week. GM, F stock could be very volatile during this period as well as the overall stock markets.

"We cannot afford to see these companies fail," said Ron Gettelfinger, the UAW chief, calling on Congress to approve the aid during a special session the week of Dec. 8, 2008.

The board of General Motors was last night understood to be locked in discussions to save the US car leader from filing for bankruptcy.

This whole situation could effect the markets this week so make sure you stay tuned!

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Citigroup ( C ) Bailout - Rescue 11/24/08

Citigroup ( C ) stock is set to open at $5.15 per share, or up around 35%, 11/24/08 as the Government has stepped in and bailed out this company.

• Federal officials will back the bank in the case of losses on about $306 billion of loans and mortgage-backed securities, while the Treasury Department has agreed to inject an additional $20 billion into the firm.
  
• Treasury and the FDIC will provide protection against the possibility of unusually large losses on an asset pool of approximately $306 billion of loans and securities backed by residential and commercial real estate and other such assets, which will remain on Citigroup's balance sheet
  
• As a fee for this arrangement, Citigroup will issue preferred shares to the Treasury and FDIC. In addition and if necessary, the Federal Reserve stands ready to backstop residual risk in the asset pool through a non-recourse loan

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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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