I am back with a new installment the Weekly Investing Report. Last week there was no report because I honestly was still disappointed with the (AIG) 1 for 20 reverse stock split. Anyway, there is nothing I can do about it, life goes on and that is exactly what I will do. My account was down a grand total of $1,683 dollars for the last two weeks and hoping that this week will be better.

I had no trades last week trades.

My investments, 50 Dow Chemical Co (DOW) shares, 75 American International Group Inc, 100 Allied Irish Banks PLC (AIB) shares, 400 Citigroup (C) shares and 500 Fannie Mae (FNM) shares.

I have been having this feeling of Deja vu, not talking about the roller coaster by the way, with the way the market has been acting recently. That same market has really given me a pounding and I am taking them punches as they come. I am holding the line and waiting for the turnaround that I am sure will come, I just don’t know when. If you see any obvious math mistakes please let me know.

Here we are in July so it’s time for my Savings Report, yes I am a saver. If you are a regular reader then you know that I save $50 big ones out of every paycheck. For the first six months of 2009 I managed to save $500 dollars, in reality it’s $700 dollars but I am going to put aside $200 to take Sunshine to the doctor. If I had not given up the months of May and June, I will give up July and June for the same reason, in order to help pay down my debt the amount saved would be $900 dollars.

Anyway, here is the breakdown, $400 dollars saved from the months of January through April, $300 from my extra paycheck and that is $700 minus the $200 I mentioned above for a grand total of $500 dollars, it’s not that much but every penny counts nowadays. That money is going straight to my savings account and staying there until further notice. Speaking of savings, there is a new category with just that name for exactly this kind of posts, yep.

This past Wednesday one of the stocks that I own went through a 1 for 20 reverse stock split, what that means basically is that I would get 1 share for each 20 shares that I owned. From, what I’ve read companies do this to boost their stock price and not look cheap. American International Group Inc (AIG) was at $1.16 when the split took place and it closed yesterday at $18.25. The stock price sure was boosted but at the current price I am in the loss column.

When I first bough American International Group Inc (AIG) I did it because it was cheap and I could buy quite a few shares, 1500 as you know. If the stock moved .10 cents I would make $150 dollars but now that I own 75 shares I would only make $7.50 and that simply sucks. I would take .10 cents with 1500 shares over .10 cents with 75 shares anytime. And just like that my “volume” strategy came crashing down.

I am very disappointed with the reverse split and don’t understand why shareholders would vote for such a move. I don’t know what I am going to do with AIG at the moment but as soon as I make a decision you will read about it.

The first six months of the year are history and that can only mean that it’s time for my Coin Counting Jar Report, yes Virginia there is such a thing. When I buy something with cash I take any change I get and put it in the now famous Coin Counting Jar, doing just that I managed to save $80.53 for the first six months of 2009. That is an average of $13.42 a month and $0.45 cents a day which isn’t that bad. I am going to wait for the end of the year so I can change all those coins into greenbacks and maybe help pay my growing debt.