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

Ford (F: chart, web, Y!) is still climbing… without me.   The guy who was going to hold Ford stock for the long run because I believed in their potential, and being the best of the worst cashed in early and left 200% on the table.

I keep waiting for a pull back, and setting my purchase point just below any intraday declines.

Oh well, I suppose it’s better to wish you had bought the stock than wish you hadn’t.

I really don’t know what my strategy is on Ford any more, as it’s blown through any level I thought was a rational top.

Investing Ford

I wrote yesterday about my Ford (F: chart, web, Y!) strategy; $3/share was the target while looking to capitalize on the pull back in overall market conditions on Monday.

No dice.

Ford never hit my price target, and it’s swung up by nearly $1 per share through the first two hours of trading today.

Goldman upgraded Ford this morning, noting that the company is best positioned to capitalize on the restructuring of the auto industry.  I concur, but I’m still concerned about the unintended consequences of restructured contracts in bankruptcy at GM forcing Ford’s hand to remain in line with wages and expenses.

Goldman sees a near term price target of $6/share, and I think that’s reasonable.

It’s clear, looking at the volume that many people took this opportunity to jump in.  I’ll continue to wait, although I will revise my buy target slightly as it’s clear that the major players are starting to notice Ford’s relative health compared to its competitors.

Investing F, Ford