Monday, December 10, 2007

Merger Mondays: Back Again

UBS writes down $10 bln, Singapore injects capital 8:17am EST
ZURICH (Reuters) - UBS revealed a $10 billion writedown and an emergency injection of funds from Singapore and the Middle East, making it the biggest victim of the U.S. subprime crisis to date among major European banks. Futuers are holding up so far ahead of the FED tomorrow.

Blackstone plans bid for Rio with Chinese: report 7:52am EST
SYDNEY (Reuters) - Investment group Blackstone is planning a counterbid for Rio Tinto Ltd/Plc with a consortium believed to include China's sovereign wealth fund, Britain's Daily Telegraph newspaper said on Monday.

Lafarge to buy Orascom Cement for $12.8 bln

Japan's Eisai to buy MGI Pharma

Reuters and Intl Herald Tribune sign content deal

Montreal, TSX exchanges to merge: report

Dun & Bradstreet says in M&A talks in China

Reckitt buys Adams cough treatments

Carillion agrees revised $1.2 bln bid for McAlpine Ads by GoogleWhat's This?

Wal-Mart plans 100th China store
Dec. 10 - The world's largest retailer eyes big sales in one of the world's fastest growing economies.

Posted by prudentstockinvestor M.D. at 8:33 AM

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$BPCOMP

$BPCOMP
Extremely Oversold

Regarding Chart: BPCOMQ

This is the lowest close seen in years, usually a sharp and violent rally follows these moves enhanced by short covering, this is no time to short and start making a shopping list.

Bear-ly Hangin" In dustrials

Bear-ly Hangin" In dustrials
Dow Graph: 11/20/07
The Dow looks like its fighting for its life here at the level. It's no surprise there was a vicious bounce off the trend line as shown in the chart. Unfortunately, the last time we had that five hundred point reversal day was caused by the Fed stepping in, there has to be a similar event that helps the market or there is more pain ahead. The Fed minutes said nothing the market really liked, we sold off hard and bounced back hard as we hit support. This was just a reflex rally we may have to get one more really painful selloff to get around 12500.