Ford Motor (F) NewsBite - Ford Falls on Weak September Sales

Posted: Thursday, October 01, 2009 1:16 PM EDT

Ford Motor (NYSE: F) opened at $7.18. So far today, the stock has hit a low of $7.00 and a high of $7.25. F is now trading at $7.07, down $0.14 (-1.94%). The stock hit its 52-Week high of $8.86 in August and set its 52-Week low of $1.01 in November. The stock is selling off today after the company announced that September auto sales fell by 5.1%, as demand weakened following this summer's highly popular "cash for clunkers" program. Technical indicators for the stock are neutral and S&P gives F a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on F the stock seems like it could be a candidate for a December in-the-money call debit spread below the 6 range. [ABR-Seven Summits Strategic Investments NewsBite]

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