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Non-Tech : Bill Wexler's Trading Cabana
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To: ggersh who wrote (5733)7/9/2009 11:43:33 AM
From: RockyBalboa  Read Replies (1) of 6370
 
It is surprisingly strong today, the EUR JPY trade shot up first then faded safely back,

I am looking at AIG again. Having been burnt a little last week, and not main tained a subsequent short trade I believe that this is not going BK. The government will do everything to keep its equity alive, for their huge stake in the company.

Citi cut AIG target to 14 citing a 70% probability that its equity is worthless...this is more than baked in the price.

If GM manages to double and treble in Ch.11, AIG could be good for an even better trade.
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