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WPSPIKER
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I will be shorting AIG this week, that ridiculous jump in price was a classic short squeeze which drove UP the price which made people (inexperienced day traders primarily) flock to the stock to try and book some profits when the slow to respond shorts were covering. My crystal ball said by weeks end the stock will be 20% lower;) & by my best estimation it will still be overpriced per the actual underlying value
Aug 30 08:53 am
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All Comments by WPSPIKER »Stay Away from AIG - Barron's [View article]
While "Too big to fail" has been coined the primary reason Gov didnt let it fail was due to the Interests held by other governments who also own US dept, this is my summation on the company. I'm going to be watching closely for the volume and the price action in pre-market and post market Monday to determine where I will be starting my Short Sales;)
MM