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AIG so far today, wow!

Old 08-05-2009, 11:31 AM
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Default AIG so far today, wow!

The thing is up around $8 today. Around a 64% increase.

When it was first brought to my attention it was up $2.60 or so and that shocked me, but 64%, that is something. Started at $13.50 today.
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Old 08-05-2009, 11:38 AM
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I just got in at $21.80 and in about a minute, got out at $22.39, wow! I have seen many who can daytrade get in and out more than they can ever remember, wow is all I can say.

I had to do it one last time from $21.16-$21.40, just had to.

Now I'm at the limit of 3 day trades in a 5 day period, any more and I might get a warning and no trading for 90 days, I sure don't want that to happen.

I'm glad I got tipped off though.

Last edited by thundra; 08-05-2009 at 12:06 PM.
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Old 08-05-2009, 12:21 PM
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I did the same thing with HGSI a couple weeks back. Got in at around $10 and change and got out the next day at a little over $14, thinking it was going to crash. Well it didn't and now its trading at just below $15.

Anyway, if you don't mind me asking why are you limited in trading ? I don't day trade but I do swing trade a little (most of my $$ goes into growth funds)
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Old 08-05-2009, 12:35 PM
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The SEC definition of pattern daytrading says we/I have to have $25,000 in cash for me to trade all I want.

As a result, I'm limited to 3 roundtrip trades in 5 days, I'm at my limit now.

It is tough as I have seen, just now, AIG go from $21.84 all the way to $22.74 in the span of 10 minutes.

I even called the broker service to confirm my status and he agreed that AIG has moved like no other today.
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Old 08-05-2009, 02:42 PM
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Just bite the bullet and pump the 25K in. Then you have no issues-Thx for the tip-will watch...

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Old 08-05-2009, 02:53 PM
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I'm close to the $25K in cash I need but just a bit shy, soon though, soon. Had I had it, I would have gone in and out at least 3 more times in the last 20 or so minutes. When one looks at the candlestick chart and sees the spread within the minutes, it was just plain crazy.

I thought my computer was broken when watching the numbers go up in .10-.30 cent jumps in mere seconds, it was insane. Like a slot machine that would not stop spitting out quarters, like JACKPOT! over and over again.

There was a lot of money to have been made, or lost, in AIG today, that is for sure.

I'm thinking that today was a once in a lifetime deal for that stock, or maybe any stock. Be interesting to see what it does tomorrow even though I spent my nut today, oh well. It was a gift.
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Old 08-05-2009, 03:01 PM
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Originally Posted by thundra View Post
I'm close to the $25K in cash I need but just a bit shy, soon though, soon. Had I had it, I would have gone in and out at least 3 more times in the last 20 or so minutes. When one looks at the candlestick chart and sees the spread within the minutes, it was just plain crazy.

I thought my computer was broken when watching the numbers go up in .10-.30 cent jumps in mere seconds, it was insane. Like a slot machine that would not stop spitting out quarters, like JACKPOT! over and over again.

There was a lot of money to have been made, or lost, in AIG today, that is for sure.

I'm thinking that today was a once in a lifetime deal for that stock, or maybe any stock. Be interesting to see what it does tomorrow even though I spent my nut today, oh well. It was a gift.
Easy, man.

Those diamond eyes have cost many a "trader" every dime they had.


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Old 08-05-2009, 03:34 PM
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HGSI and SQNM were wild a last month. If you are new to day trading / flipping ... don't forget how fast all those trades can add up and you will need to report each trade come tax time.
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Old 08-05-2009, 03:52 PM
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I bought AIG at $1,15 a share before the “reverse split”.

Today was a happy day for me.

At one time today the six most active stocks were my stocks.

I made a pile today. Doesn’t happen every day.







Ray, Tennessee 2180DLX Carolina Skiff 90HP Honda
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Old 08-05-2009, 04:06 PM
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Ray,

Can you spare an extra $50k?

Daddy needs some new outboards.


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Old 08-05-2009, 04:40 PM
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Being an American tax payer I was kinda thinking maybe, awww never mind.
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Old 08-05-2009, 04:43 PM
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Good deal Ray, it sure doesn't happen every day, but when it does, it is really something.

Wow, in at $1.15 on AIG, that was brave, brave and profitable.

It will be interesting to see how it does tomorrow. The news will be out tonight and in the papers and everywhere, and people will chase and pump it up.

I'm gonna have to sit and watch.
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Old 08-05-2009, 07:16 PM
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Explain to me how buying AIG at $1.15 has been profitable.
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Old 08-05-2009, 07:42 PM
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Originally Posted by CONCHY CRACKER View Post
Being an American tax payer I was kinda thinking maybe, awww never mind.

Yeah, me to. I was wonder if these means the US govt is making money on the shares of AIG it owns.
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Old 08-05-2009, 07:55 PM
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glacierbaze, really?

How about if one had bought 1000 shares at $1.15 each back when it was $1.15, and today it goes up to $23.00, that would be roughly $22,000 in profit!

I scalped almost $1,000 trading it twice today. Had I been able to trade a few more times, I would have made double that.

I think one has to keep in mind too, that whether one is trading GE, or AIG, or BAC or whatever, the company is not making anything. For example, when I am making a trade, someone is selling me their shares at what they think it is worth, then when I sell them, someone is buying them at what I'm selling or offering them for.

Whenever I'm making some money, I always think that some 'sucker' is losing and I'm taking their money, like a game of poker, a-ha.
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Old 08-05-2009, 08:00 PM
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I don't want to burst your bubble, but do you have any idea what a 20:1 reverse split is?
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Old 08-05-2009, 08:09 PM
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No problem glacierbaze. People made some loot today though.

I do look forward to tomorrow as I will love to see what happens. It sure is interesting, that big money game that gets played 5 days a week, that's for sure.
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Old 08-05-2009, 08:16 PM
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People made money, but not Ray. If he was your example, he bought 1000 shares at $1.15, but as of July first, he owned 50 shares at $23. He is still fifty dollars in the hole, not up $22K. Read my AIG post at the bottom of this page.
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Old 08-05-2009, 08:29 PM
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Ok, you may be right and I may be wrong, I guess. It matters very little to me anyhow.

One buddy of mine made out really well as he was trading it in the thousands of shares, in and out, in and out, over 18 trades throughout the day. Was by far his best day ever. He made about 1/2 my yearly salary, but then again, he is good and trades full-time.

I'm just a training Jedi under his Yoda-like mastery. I'll still not get over how fast the numbers were moving, it was spellbinding and I may never see anything like it again, then again, there is always tomorrow.
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Old 08-06-2009, 10:04 AM
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Swinging up and down all day so far today. It has been a daytraders wet dream the past 2 days.
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