Age old debate. I’ll just say this, how are fundamentals treating FA traders here? How many are balls deep in shorts, averaged down like a mofo with no dry powder left? Are their FA reads correct to suspect bear, most likely. Are they solvent enough or have options far enough out to hold on and be proven right…hrmmmm.
TA is the best method for equity protection, which is rule 1 when trading speculative vehicles. Not to mention IMO FA is built into proper TA. FA data isn’t what pays you, price movement IS! I say focus on what pays you, not what you think could pay you.
Not directing this at you persay. If FA works for you then it’s what you should use. For me, and in general I think FA is far too rational to trade off. And TBH, I’ve never understood how people just trust the numbers companies put out. They cook the books all the time, but FA data is on the up n’ up?
They reverse split 20 to 1 July first. Basically every 20 shares was now worth 1. They were hovering around a buck which risks being thrown off the NYSE. If he bought shares at 7.50 before the merger, he really paid $150 for a current share :lol:
He bought 1,000 shares for $7.50 a peice = $7500 total in march
In June (?) they reverse split - which is consolidating shares to make 1 share worth more, mainly so they didn’t get kicked out of a particular exchange / market.
So they consolidated 20 shares into 1 share.
Back to Slow84ta: 1000 / 20 = 50 shares. $7500 / 50 shares = $150 per share.
Todays AIG value is $36.xx per share… $5700 in losses for Slwo84ta.
Count me in with the fundies traders balls deep in shorts that cleaned up today
Now hopefully the stupid PPT doesn’t come in tomorrow and ruin our needed bear run, like they’ve done for 6 months.
Key stats and ratios 2008
Net profit margin -904.06%
Operating margin -979.48%
EBITD margin -N/A
Return on average assets -10.52%
Return on average equity -134.27%
Employees 116,000 -
[sarcasm]Sounds like a healthy investment to me[/sarcasm]
People talk about the tin foil hat crew…yet in those circles PPT is considered an accepted belief. LOL
2 nice down days…not sure how well most perma bears cleaned up in reality. I know guys that were short from way too long ago to profit here in all probability. You must have managed your dry powder flawlessly. Congrats.
Added----
Here’s where I show fib based support on the DOW. Of course to maintain a technical uptrend the prior swing low must hold before the fib ambush zone would even come into play. The daily makes the move look far more impressive…don’t get me wrong it was on solid volume. But bigger picture this price action isn’t awe inflicting yet IMO.
