So as I suspected, the shady BSC deal was revised today to five times its original bid. So JPM openly admitted that it was ripping off shareholders of BSC (30% of which is BSC employees). JPM share price barely budge today, that goes to show that JPM is still ripping BSC off. Like I mentioned in previous thread- BSC couldn't possible have $11 billion equity disappear in 1 quarter. JPM and the Fed is up to no good. The Fed could easily provided this $30bil cushion DIRECTLY to BSC to save BSC. Instead, the Fed engineered a take-under to destroy BSC- strange isn't it?
Back to trading: The market continues to make its way to 1400- HEAD resistance. If the S&P can close above this, we got some upside to go. This remind me of 1998, when the Fed lower rate to save LTCM - the market then have an unprecedented rally for 2 years. Could we be in the midst of a similar rally? The S&P chart show recent double bottoms. What's the next shoe to drop? We know housing is crap, we know earnings are shrinking, we know unemployment isn't getting any better, the war in Iraq is costing more, the dollar is weak....We know all that already....what's next?!!?!?!?
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