"Trading Idea: Sell AIG" (AIG)

The stock is trading at $30.51, up 62 cents. From The Big Picture:

We have been watching AIG after it fell below its recent support (red lines on the attached chart) around $32.75…Now after almost a week of trying, and failing to move above (failing on higher volume) we now see AIG moving lower. Our first trading target would be low $20’s….and use the level of the breakdown as the stop…

As seen in the attached jpg AIG shares look ready to trend lower.

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Any questions, please contact Peter Greene
Fusion Analytics Securities
pgreene@fusioninvest.com

See also (in reverse chronological order):

AIG Tangible Common Equity -$162.06 a Share, Analyst Says (AIG)
American International Group: AIG Reserves Deficient - Sanford Bernstein (AIG)
AIG Shares: Still Not Worth Anything.
Credit Suisse Analysts on AIG: ‘Little to No Value for Common Equity’
American Intl Group: Downgraded to Underperform at Sanford Bernstein; $10 target (AIG)

That last one is dated Sept. 1, 2009:

...In early pre-market trade the stock is down $2.23 (4.92%) at $45.33. If SB is correct that leaves some downside, eh?...