AIG- Im buying right now

Discussion in 'Stocks' started by Port1385, Jun 20, 2008.

  1. New CEO who is finally calling a truth and meeting with the arch enemy Greenburg and ending the cold war. Now trading at a substantial discount.

    AIG not going bankrupt now trading at prices that have not been seen in 10 years.

    Analysts starting to capitulate and rate the stock a buy.

    International company, international concern in a growing foreign marketplace for life insurance, auto insurance, all kinds of insurance, etc.

    Sub-prime credit crunch wont go on forever and already 1 year long in the tooth.

    June almost over...In the last two years, June July were good times to buy (maybe not to hold neccasarily over the long term, but good times to buy for at the very least a quick trade.

    Money coming out of oil, coming out of XLE securities needs to find a home.

    Chart appears to offer significant amount of resistance at 30.

    Maybe Greenburg will lighten up and tell STARR to cut back on diluting the float.

    Im buying AIG along with names like C, BAC, and FMD.

    Am I crazy? I hope Im not...You decide...

  2. fyi it's not just subprime. read up on alt-a. it is larger and will be more drawn out than subprime. go look at mr. mortgage's blog. don't try to be a hero with financials. just because they are down a lot from their highs doesn't mean they are going to return to those highs. just remember a lot of their business wasn't sustainable so it's not as if this unsustainable business will magically come back.

    be careful and don't allow yourself to get run over.
  3. Thats funny. Everytime I hear that term "Dont be a hero" on CNBC then the markets rally hard for weeks and weeks. This mortgage boondoggle has been going on for a year and someone has to be doing something about it at these companies...

    AIG doesnt originate mortgage loans, but they made some bad trades with loans. Dont you think that someone at AIG has stopped trading those loans or at least tried to mitigate the exposure? I know these are Tier 3 assets, but just how long is it going to take. A year is a lot of time.

    The financials havent fallen off another cliff and its June when the market is supposed to be very weak.

    Well, thats a double bottom on the XLF chart. Well, we'll see, but Im willing to throw my hat into the ring now and put my money where my mouth is...


  4. fair enough....just keep your risk in place. again read up on what you are buying. yes a lot is priced in already but a lot is also simply unknown. a year is not a long time in a credit crisis. that is why i said to read up on alt-a. if you don't want to then that is fine. just remember to not risk too much and be read to get out.

    btw why don't you count the number of previous "double bottoms" in the XLF? it looks like it is somewhere around 5.
  5. you are down a point as it stands now mr. paper trader.
  6. dsq


    whatever happened to day7793 hedgefund2?
    They all post like stocktrader3?Interesting to get their ip addresses no?This site has gone way downhill since january.I notice most of the real traders dont bother here anymore.Thats what spam posters do.Too bad baron doesnt get it.
  7. NoDoji


    There are higher probability trades available, IMHO...
  8. you still buying AIG? :D
  9. Another Port winner, eh?

    I just bought some at 13.51, but not because Port recommended it back in June (lol). In fact, I'm nervous now that I see a thread with his name on it about AIG.

    After his wonderfully brilliant FNE call, how can this one go wrong? :)
  10. Daal


    our very own bill miller did it again, port your on a streak man, what should I short for next week
    #10     Sep 12, 2008