Bank of America is in talks to by Merrill Lynch at $25-30 and could be announced as early as tonight according to the N.Y Times and the Wall ST. journal.
Barclays and Bank of America have walked away from Lehman and liquidation/ chapter 7 is next. (this could change but I doubt it)
Wamu is still in hot water- will JPM be a white knight?
AIG will be talking about a massive restructuring in the morning.
The market will be off the hook tomorrow---capitulation anyone? Sold to you...
Sunday, September 14, 2008
What We Know So Far
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About Me
- upsidetrader
- I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.
2 comments:
Makes no sense why BAC would pay so much for Merill...If things play out as you have written you think this will be a bottom for financials?
bubs
tomorrow promises to be a freak show-maybe down hard and a rally-but not the bottom
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