sbra's  Instablog

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Hobby economist, Day trader
  • Killing the retail investor 0 comments
    Aug 28, 2009 1:59 PM

       Warning you are about to get burned and the big boys know it. Retail investors (especially the new ones) don't understand what is happening with aig. First off there was a huge short interest in aig, when the stock moved up caused by a 2nd quarter profit, this caused the shorts to get worried and they had to move out of their positions. When a short moves out of their position they have to "buy" the stock they shorted, this causes a move up on the stock. AIG may or may not get out of this alive I don't know but they don't have very good financial statements. Don't be fooled buy the big boys if you're in take your profits now, if you are thinking of getting in you will be the lamb amongst the lions and you probably will learn a very expensive leason.
    If you want to buy a financial stock that has a good balance sheet look at GS, JPM, if you want to specultate a little for high gain potential try C. There is little down side to C they do have a good management team and they also have the government behind them. Wake up before its to late. In full disclosure I personally shorted all the Russell 1000 financials late yesterday, I believe we are in for a moderate pull back.

    Thank you for Reading

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