This post was just published on ZYX Buy Change Alert.
GM is long from $32.41 and 40% of the full core position size is being held. Consider taking profits on a 10% tranche in the zone of $34.50 to $35.83. GM is trading at $34.76 as of this writing.
The target remains $48 to $50. There is no fundamental change in our thesis on this company. This small profit taking is simply one of the many, many steps to reduce risk in the portfolio in view of over bought market conditions.
The buy zone on GM is now suspended. At the appropriate time, we will publish a new buy zone to initiate or add to the position.
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