If we can break the 50 Day Moving Average watch out.
Anyone see this AIG news link 29 minutes ago AIG sales advancing. AIG's (AIG) asset sales are finally beginning to pick up some momentum. Sources say the struggling insurer is expected to reach deals by the end of the year to sell an equipment insurer and its U.S. personal lines unit, potentially valued between $5-7B. It's also making progress on the sale of a smaller business, Hartford Steam Boiler Inspection and Insurance Co. AIG has previously said it plans to keep its U.S. property-casualty, foreign general insurance businesses and an ownership interest in its foreign life operations but sell the rest. Fed may restructure AIG loan. Federal officials are looking into options to ease the financial strain on AIG (AIG), including changing the terms of its $85B government loan. Sources say officials may reduce the interest rate on AIG's loan or extend the duration of the two-year facility, or may choose to backstop AIG's credit-default swaps contracts. AIG's current loan terms are fairly steep at 8.5% on money it isn't borrowing and 8.5% plus three-month Libor (currently 2.39%) on money it draws down, especially compared to the 5% interest charged to banks and firms covered by the $700B TARP program.