Mondays session should be quite interesting as Jp Morgan is buying out Bear Stearns for just $2/share! This
is significantly cheap as most of the small under the radar small caps are worth a similar amount… Financial markets are looking grim and the fact that BSC is selling out for just $2/share and on top of that the FED just decided to cut the rate by another .25 basis points Sunday re-affirms the sketchy situation.
Asian markets slumped near 3%, S&P futures dropped 2.3% and the dollar fell to a record low against the Euro. But hey, This is good news if your positions are anything similar to TheTechnicalTrader.net portfolio. We’re heavily weighted short, and our position in CGLD.OB should perform well on the long side as gold broke over 1,000/oz over the weekend as the dollar collapsed with oil rising as well.
So it will be interesting to see how the markets will react tomorrow. I’d say its a given we’ll see the markets gapped lower on the open, from there, who knows.
