With the DOW currently above 11,100, a turn around in the stock market doesn't seem quite as imminent as it once did.  Merrill Lynch just reduced their CDO exposure by $11.1 billion after the market close today.  However, as a Merrill Lynch shareholder, you've just been diluted by 20%.  Also, even though the Sirius/XM merger has now been approved, shareholders of both companies aren't exactly feeling like winners.  Even Jim Cramer isn't touching the common stock.  We're going to need a bigger catalyst than another short squeeze if the next rally is going amount to anything, and it seems like it's going to be a long time before we get one.


 


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