What does this mean ?

[Mega]

http://www.businesswire.com/portal/s...29&newsLang=en

Mike

[c1ue]

Re: What does this mean ?

It means the next leg down for the financials - Merrill biting the bullet and writing off a significant CDO chunk plus a recapitalization.

SKF over 150 tomorrow for sure.

[LargoWinch]

Re: What does this mean ?

Means that if for some ungodly reason you are still holding Merrill, you gotta sell that putrid paper to some poor fellow (preferrably a sovereign wealth fund)

[Jim Nickerson]

Re: What does this mean ?

It means the next leg down for the financials - Merrill biting the bullet and writing off a significant CDO chunk plus a recapitalization.

SKF over 150 tomorrow for sure.

Oops! Last quote I saw was 122.31, that's close and close in good in horseshoes and handgrenades.

[Mega]

Re: What does this mean ?

My thanks Gents!
Mike

[c1ue]

Re: What does this mean ?

Yep, somehow consumer sentiment rising from a 51 to 51.9 was seen as a positive.

Either that, or everyone expected the Merrill writeoffs to be worse.

But of course, time will tell if the CDOs that WERE sold were the better or the worse ones!