October 18, 2010 | In: Financial

Revisting AIB

I wasn’t right about many stocks, including GOOG and RIMM, but I was right about one stock, AIB. This stock was over $2 just a month ago, and now it dropped to $1.18, its trading is now more or less like SIRI (which is a bugs bunny stock).

AIB is now becoming a disgusting stock, you can never make money on it unless you know its exact movement; the consistent downward trend of this stock is scary, I wouldn’t touch it myself (I was about to buy it at $1.48 a couple of weeks ago, but a glitch in the my Internet connection was the reason why I didn’t buy it).

Investors are now fleeing financials and probably buying technology stocks (hence the rice of MSFT, GOOG, RIMM, AAPL, and the likes). I feel that financials are now undervalued (although I really really hate BAC, I feel that it’s way undervalued at $11.98, make that $11.96. It does seem that BAC is heading for doom. I wish not, I own a lot of this thing. I have also increased my position last week). BAC’s 52 week low is $11.74, 20 cents less its current trading. Will the stock go down further, only tomorrow’s earnings will tell…

Let’s wait and see…

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