There was a short squeeze a few weeks back when AXP bounced north of $40....and there will another in the very near future to wash out the fry cooks and other mental giants who purchased the "Get Rich With Options" snake oil program on the late night infomerical.
PLEASE go all in....short AXP....lose the rest of your stash....and don't quit your day job!
Oh...and take your foul-mouthed, moronic posts back to the slimepit from which you crawled.
See what happens when you make the announcement of the demise of AMEX and its premature. I love it when I see great companies get slammed by the stock market! You realize you are bashing a Buffett stock, don't you? How often is he wrong??!! I would wager a guess that its far far less than you or me or anyone else in the investment world! I'll let you in on a secret - follow the Buffett favorites and buy 'em when they get whacked. You would have bought Wells Fargo and American Express - duh, they're doing great while many other financials melt down! Earnings down 20% while the rest of the industry loses their cllective asses?! Bash Buffett all you want, but I wouldn't wager a bet against him! The funny part is the shorts took down a lot of financials, but I doubt they tried hard with Wells or AMEX. Deep pockets and great companies will always win!! You lose.
after being in the worst short for 6 weeks (axp) i closed out on monday at $36 for a small profit. this stock did not seem to want to go down and i was happy to take a small profit. now it looks like it will go they way of all the other financials and i am no longer short. crap.
AXP makes money, Short interest is at 26.2 mil shares which is really not high compared to others since AXP has 1.16Bil shares outstanding. Think this will recover, but hard to tell bottom.
AMAT & ABR