American International Group, Inc. (NYSE: AIG) is back in the soup…. Wells Fargo joined in on the downgrade brigade and took the stock down to Underperform from Market-Perform. As we have already seen two key downgrades, it seems that traders are becoming jaded to the downgrades. At 8:46 AM EST we have seen over 400,000 shares trade hands. The average volume is 34 million shares but the volume in each of the last 10 days has been significantly higher than that average. So far this is down less than 3% at $36.80. With this being the third downgrade, we’d actually look for AIG to trade the direction of the market from wherever this stock is trading around 9:45 or 10:00 AM EST…. This one has also been in a $36 to $40 trading channel the last three days. As a reminder, many traders have started using AIG put and call options to trade this because the stock often moves too fast. -JON OGG
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