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GM was one of only 4 stocks in the DJIA to buck the trend today (DJIA down 147 points). While auto analysts rate it differently than F & C, upside potential in GM is no less IMHO. Since it is still the underdog, it may also make new 1998 highs just as soon (or sooner) than F or C.

Why so? Company stock buyback program, Moody's upgrade of debt ratings, potential $4 billion of 1998 cost reduction, new models replacing approx 45% of current ones etc., etc. That's the fundamental side.

Since the stock was up today in an ugly down market, it may be just as informative to watch the technical side.

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