I’ve been watching Ford (F: chart, web, Y!) stock fairly closely the last couple days after the company announced it would offer up 300 million shares at $4.75 a piece on Monday in an effort to shore up capital for it’s union-run healthcare fund.

This is surely the pull back I’ve been waiting for, just not the reason.  In this environment it’s far better, in my opinion, to go to the shareholders for liquidity than the Federal Government.

Shares dropped below the $4.75 offering price only briefly today before closing out at $4.96.  I suspect more downside in the next few days as more pressure is applied by overall market sentiment.  I’ll put my finger back on the trigger at $4.50 if the trend dictates.  This is the first flinch we’ve seen from the “best of the worst” in quite some time, and it will be interesting to see how the markets react in the next several days.

Long term, I still like Ford, but am not willing to buy and hold.

Investing Ford