I had a chance to buy in right after the bailout when it was at about $0.32 - but was advised against messing with "penny stocks". Even with the reverse split, today would've been a nice day to cashout...
Excellent article by Mr. Practical: http://www.minyanville.com/articles/minyanville-moneydebt-Fed-inflation/index/a/24267
What is the proper price of a company that is functionally bankrupt and owes the US gov't something like $200 billion?
No - there was a 20-to-1 reverse split mixed into in there. You'd have about $75,000 from a $10k investment. But really, you could have done better than that with Bank of America, Las Vegas Sands, PALM, and a number of other companies which are much healthier (relatively speaking) than AIG.
I think AIG is way too hot right now. The general public is becoming overly optimistic about the market. Look for some of the financial companies that's been making big gains the past few weeks to relapse in October. However I think the market will quickly recover from the relapse by the end of the year. It'd probably be a good idea to sell and take profits in the coming weeks then buy again once the relapse occurs and you'll have a nice bonus from Santa by Christmastime.
A piece of me just died with Marvel Entertainment being bought out by Disney. I wish I owned some MVL, though. Up almost 30% today.
If the last time it was bearish was in March, and then market proceeded on a 50% upwards move, is that really a good indicator?
Shanghai plummeted almost 7% today, making new lows on this current down move. Below I've listed the prices for each of the Fibonacci retracement points. Look for support at the 50% retracement, which will coincide with the upward trending 200MA. If this is broken, 61.8% is next. What is really curious about this move is how little commodities and the US market has been affected. This is completely out of my expectiations, and means one of 2 things. 1) Commodities and US have some catching up to do on the downside. 2) There are other forces at work behind the scene. What forces? I am not sure. What would cause commodity prices to diverge from the Shanghai stock market on a long term basis? Maybe something to do with the Yuan/USD peg? Just conjecture for now.
so several people i know have mentioned that september is usually a month notorious for stock prices going down.. and i think i read something similar to that even on google this morning.. what do you guys think? is today and yesterday a sign of a continuing downward trend from here on out? did too many of the stocks go over their worth, and it's time to come back down? what is your usual strategy during september, in the past?
