AIG almost back to old levels. Like the crash never happened

Its time now for the real money to find values. The shorts covered last week and its time for the longs to get a position.
Its hard to claim you were on the sidelines when the year ends. To be wrong with xyz is worse than being wrong with GE. Its time for portfolio dressing. With good stable positions you can write options and collect money while you wait for income.

Money managers don't care about makeing money they only care about their fees.
 
Ok, we finally got an analyst to come out with a valuation. It was pretty ugly. Sanford Bernstein pretty good research shop and he said no reason to hold something that might very well be worth zero. He was generous after this and put a price target and most likely scenario/valuation of $10 on it. He had an outperform on it and downgraded to underperform as if that tells us anything. Biggest loser in the S&P today. Done here. Out where I got in except for what I sold yesterday. Guess you guys that said only its a POS were right! Things could be worse, could have been the guy that top-ticked it at $55.90. Nice take!
 
Quote from bidask:

i don't pay attention to this stock so this might be a dumb question.

why do you guys say it's back to old levels? when i pull up the chart in yahoo, old levels is around $1,500 per share. the shares are currently less than $100 per share.
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yeah, but this is the stock market and most traders don't care there was a reverse split. Its 50 or 40 or whatever and thats all they see.

Just tell anyone that asks that Yahoo's data is farked
 
Quote from Tide31:

Is that based on technical analysis, fundamentals or emotion? Seriously. When I worked in a bank and hedge funds, you couldn't just walk into the bosses office and say 'this is a piece of s4it, its going lower', because he would ask you: why?

Trading a stock, or on a day like today in the market or even the last 6 months for instance, when something goes straight down then bounces, there is a crease in your brain that keeps telling you that it may revisit the downside. I think we all have a crease in our brain reminding us what happened with AIG and that it may revisit downside. I'm just asking: why?
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the company is worthless, I have said this numerous times, it wasn't going to take an expert to know the drop of 20%+ was going to happen...


PRICES
Date Open High Low Close Volume Adj Close*
2-Sep-09 34.25 39.92 32.66 37.95 99,325,800 37.95
1-Sep-09 41.04 43.15 35.65 36.00 86,976,900 36.00
31-Aug-09 45.07 47.67 42.80 45.33 69,484,600 45.33
28-Aug-09 52.98 55.90 45.55 50.23 130,594,000 50.23



Still wouldn't touch this stock, headed back to single digits.
 
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