Merrill Lynch Going Under:

Discussion in 'Stocks' started by capmac, Sep 12, 2008.

  1. capmac


    Merrill shares drop as concerns over Lehman spread

    Friday September 12, 12:18 pm ET

    Merrill Lynch shares tumble as concerns over Lehman Brothers spreads to other financial stocks

    NEW YORK (AP) -- Shares of Merrill Lynch & Co. declined Friday, as concerns over the fate of the investment bank's rival, Lehman Brothers Holdings Inc., spread to other financial stocks.

    Merrill shares tumbled $1.61, or 8.4 percent, to $17.80 in late morning trading, after earlier falling to a 12-year low of $16.90. Shares have traded between $18.50 and $78.66 in the past 12 months.

    Lehman's shares have plunged this week, as the No. 4 U.S. investment bank scrambles to find a buyer, or otherwise reassure Wall Street that it's stable.
  2. That's just the stench of Stanley O Neal wafting through MER's books. Oh, baby.
  3. Funny, on black Monday Oct 19th 1987, rumours were rife on the floor that Morgan had gone under - it was such a bloodbath, down 25% on one day.

    18 mths back from today those in a position to see if there was copper in the gold vault made up their minds and this ugly chart is their verdict.

    14.4 and 12.0 look like the next decision points.

    Reminds me of a friend how invested heavily on Nortel right at the top. After he lost 90% he came to tell me he was buying heavily again because it was rock bottom. He was gutted when I told him the day would come when he's look UP at this "bottom" with amazement and wich it could get back there.

    Of the 10% he had left, it fell 95% before bottom and MER sure looks a candidate if those last hanger-on levels are spooked.

    (monthly chart attached)
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  4. If Merril goes under, THAT will mark the ultimate bottom of this whole mess. Then again if goldman goes under fuck money and trading, grab your guns and head for the hills.
  5. I don't know if it's the right time to call bottom yet when Alt-A and even Prime went bad.
  6. toc


    Technically speaking merrill was a good candidate to exit at late 70 price levels.

    Oil has corrected to below 100, get ready to buy again for another leg up much higher levels than recently reached.

    US dollar will gain nother 5% and then a big big big leg down starts. Time to flee to gold, gold and mostly golden stocks.
  7. toc


    Correction, Oil can go down to roughly $80 per barrell so some downside more to go. :D
  8. This is just a raid. The Secondary was done at $22.50. On Thursday, the stock low was 22.47. That was the signal to take everything higher. Then, you crap gap on Friday - now everyone is under water. It was the worst kept secret on the street.