Yes, Gordon Gecko, Boesky, and Dennis Levine are all back. Private equity investors, not junk bonds, are the new rocket fuel for the merger game. Adam Warner (AMEX Alum) over on the Daily Options Report brings up some really good facts. Blue Horshoe loves everything.
Market opens up to new highs and sells off on Greenspan. Yep, that's correct, my great uncle Al said that China was a "bubble"and the spoos decided to hit the mattresses. WRONG. Its Moors not Moops. This market has been toppy for 2 weeks already. NDX way underperforming, 30-yr rates backing over 5%, dollar, gold and oil all reversing trend. Liquidity drying up so assets need to be sold.
I would wait till the price hits 1450, by then all the suckers will be out. Mr. Valentine sets the price.
Happy Shavuos to all, and to all a good night.