Think so? They may not be crushed as bad as the previous quarters because people now expect the earnings to be bad. It isnt unexpected. The bad news may already be factored into the price. The way things have been going, I wouldn't be surprised if MER (or any other bank) announced a $15 billion dollar write down and the stock resulted by going up 15% because people expected it to be worse. "zomg! i taut it wuz guna be $40 billion dollars! dat iz nat so bad"