American Intl Group Inc (NYSE: AIG) Drops Below Support Says Market Timer Frank Kollar

May 13, 2008 (FinancialWire) (By Frank Kollar)

Shares of American Intl Group Inc (NYSE: AIG) gapped down last Friday, May 9, and on Monday continued lower in the midst of a broad stock market rally.

What is next for AIG? AIG tried to rally from its March 17 panic lows, that reached $38.50 intra-day, but the declines of the last two days have ended that attempt.

The correction has been long and rough on shares of AIG. Share prices dropped in twelve months from a high around $72, to Monday’s lows at $38.37, a 46.7% decline. Monday’s close at $38.37 is below that March panic low, and forecasts even lower lows ahead.

The first support level is at $35.78. This is where buyers are most likely to come in with any force. A decisive close below $35.78 will forecast a decline to the next support level at $32.11.

The Fibtimer.com (http://www.fibtimer.com) Stock Timing Strategy has a position in American Intl Group Inc .

Kollar’s research has shown that the financial markets are in tradable trends approximately 80 percent of the time. FibTimer strategies define trends and trade them in both advancing and declining markets. Caring nothing about what newscasters say or what the latest economic indicator predicts, trends are where the profits are, and that is where FibTimer is.

Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com) which offers market timing strategies for S&P and Nasdaq index fund traders, as well as bond, gold, small cap, sector, ETF and stock trading strategies.