The only play this stock could be right now is for Shorts. How could you tell your family you were holding AIG as a long term investment with all the current uncertainty? As an investor there are much better performers in the market.
Do you have a clean company in mind <G>?? Thanks for the advise. I still think I may have made a mistake but the weakness on Friday made me realize once it breaks 50, like Wal Mart eventually did, it COULD continue down another 5 or so without hesitation. 50 has been guarded so strongly. We shall see.
Take the loss and sleep at night.
If it bounces up, the big money will exit in a way that it is hardly noticable.
Just buy a clean company and buy here when everything is filed and there are NO loose ends left to unravel....about 2 years
piece of mind worth more then loss here...
I've been long for a few weeks now but sold my position when the stock was weak on Friday before the market in general turned. I may have made a mistake, but if the market didn't turn, Aig was ready to crack 50. In my mind, once that phycological barrier is broken, it will give up points with ease. I am not short and I half regret selling when I did (around 50.40), but it was weak when the dow was up, even with potentially good news coming out on Monday. Just my humble opinion but my resolve was shaken ....
Right on , all the AIG bulls are expecting the nightmare to be over , maybe on Monday or Tuesday or what ever date they fancy.
Facts are documented clear and accurate on the chart, that being DOWN, DOWN, DOWN. Many Mondays and Tuesdays etc, have passed , the shares have gone down and various support levels broken, right now we are the $50 mark , soon that will be gone.
I don't care about what will or will not happen on Monday, this stock is TOAST.
If indeed the re-statement was or is about minus 1, or 2, or even 10 billion , someone would sign off on the financial statements , pay the fine and go on their merry way, no problem , so figure out for yourselves why they aren't doing it.
Your wrong. You are your crowd have been here for weeks now hammering at it saying it was going lower and your frustration is showing $80M NY comp case, some agents that fudged commissions. It will take a hell of a lot more than that to crack AIG below $50.
Any realistic analysis of how low the stock with actually go? I think 45, but someone earlier said 17. Is it realistically possible for such a strong company to go that low. I want to switch 29,000 near the bottom, but do not want to wait too long.
If the losses are more than 8 billion, you will see another downgrade on behalf of moodys . a m best, fitch & s& p. They may not want too but will have to. With that in mind, more business in the pension areas will be lost and most damage to the company reputation. Should this continue by missing the 10k, the nyse will place and e behind the ticket and then there will be more trouble. the problems that are coming out, are being fed to spitzer and the wsj by a flock of in house canaries singing away.
Each time it gets closer to filing deadline, another scandal breaks and all of this has to be sourced. What CEO in his right mind would sign off on a 10 k.
Many who are not lucid on this board talk about a settlement. This is a neat idea, but it may take 18 months to 2 years to unravel all of these problems. You are only seeing the tip of the greenberg, or is it an iceberg.
It appears aig is very much like neron and rotten to the core.
I see this company being broken up and mabe eventually some of the pieces will grown stronger, but the aig you knew has ceased to exist and is a withering weed at this time in desperate search for a good drink of water.