I'm not happy to be losing today, but in the bigger scheme of things today's sell-off is nothing to complain about. AIG is still on track, but appears to be a couple of quarters behind schedule. Given that, 6% is an appropriate adjustment. The trends are still positive.
I think a lot of people forget this was/is a hedge fund favorite who got in low and they probably want to book profits. So a little changing of the guards here is to be expected with just the market at these levels and they after all are trading not investing long term. I remember thinking back then, boy I must be smart and oh-boy, when these guys bail, watch out! lol Sorry the CC wasn't too smooth, I just read the reviews and it wasn't pretty. Long term I think good stuff to come! But am not sure it won't be awhile for all the selling to be over if the funds don't want to wait for another quarter for good news. Some serious money has been made on this stock already. Very different story AIG vs GM as I see them mentioned here and I concur. I own both. Hoping both do well of course:))) but there is a price to sell and a price to buy them for different reasons. JMO
Yeah It may do it unless the market goes red. In at $48.60-.35-.12 there is a huge formation building between $48.30 & $48.50 area. It could act as a base for now. Let see what happens when Europe closes at 11:30am. AIG had a revenue miss and gets crushed. GM beat EPS by a few pennies and missed by a half a billion on revenue and the stock went up $1.17 a few days ago. Of course each stock lives in it's own trading world.