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The AES Corporation Message Board

  • sid66tb sid66tb Mar 16, 2002 9:56 AM Flag

    Fibbannachi retracement?


    Common has moved from 4.75 to $9.25...If one applies a 38.2% retracement formula to the recent gains (9.25 less 4.75 equals gain of $4.50 per share).., the retracement should be about $1.75

    From high of $9.25 to current price of $7.84 we have moved down about $1.40...

    I am VERY LONG THIS STOCK (both common and preferred) and will be adding some Monday...then if it moves down farther, will simply add more!!!!

    Best deal out there right now!!!


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    • bygollythisstockishot bygollythisstockishot Mar 16, 2002 10:24 AM Flag

      Stock did retrace fairly strong on the downward spike on Friday due to what is believed to be someone dumping approximately 500,000 or so shares all at once at market price. Stock bounced quickly off the low with short covering and new longs, however, due to the general triple witching and typical Friday market buying malaise, AES could not recover totally, however a 1/2 point loss ain't bad from the prior day close and considering a big initial sell off by one of the Funds or Institutions.

      Looks like a base was built here for the second leg up next week to $10 or better. Shorts have a lot to worry about if they are holding over this weekend. Strong DOW close on Friday could lead to a nice follow through on Monday for the broad market.

      What we may be seeing next week to April is new institutional money buying the low priced value stocks prior to the quarter end, rather than dumping for window dressing purposes as during the past downward biased bear market. In the past Institutions would unload stocks prior to quarter end. Now, they are building their portfolios for future gains. Just the opposite of what it was. Too bad for the lowly Bear funds. They will continue to be left out of the party at a much faster pace as the days roll by. Just think about all of the covering to be taking place in the market place and going long as the economy continues to recover. Double whammy violent upside potential. NO PUMP JUST FACTS. SHORTS ARE HISTORY. Now bash away my little pea brained short friends. GO AES AND SMOKE EM OUT NEXT WEEK.

12.75-0.25(-1.92%)Mar 4 4:00 PMEST

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