However, I then read an article like this one over at BusinessWeek Bloomberg that makes me rethink the technical argument. The piece warns that the quality of the next few quarters could be inferior to the one that was just reported. That doesn't make me feel so bullish.

Management defeated the analysts in Q1 by delivering an adjusted 46 cents per share versus an expected 31 cents per share, according to the news item. Sounds nice. But my big concern from a short-term perspective is if the stock will temporarily fall out of favor with Wall Street, not only because of intrinsic issues, but because the overall market might experience that long overdue correction everyone has been talking about (including myself).

Ford isn't my idea of a long-term stock, to be honest. I'd rather be in a reliable dividend-paying entity if I'm using a buy-and-hold strategy. As a trading vehicle, the equity can be useful. Right now, I'm not interested in making a purchase. According to our Analyst Calls summary, Credit Suisse has downgraded the shares and believes they could fall to a price of $10. My instinct is telling me there is too much risk to Ford and that there have to be better alternatives out there for short-term capital.

Disclosure: I don't own any company mentioned; positions can change without notice.