Thursday, April 23, 2009

NYSE Euronext supposedly jumps on merger news

Doesn't really add that this merger rumor with Deutsche Boerse would make the stock jump nearly 14%. This isn't the time for NYX to merge with anybody especially somebody trading at more then 100% its value. We know that DB isn't buying NYX for regulatory reasons so the price jump seems unjustified based on that reason. Another reason for the jump might be CME earnings report and a nice jump off the 20/50ema on a technical basis. We'll see if the rally lasts. We're long the stock but not counting on this move.

Edit: though not posted yesterday we luckily added stock to the Net Payout fund because of the wonderful 5.5% dividend and the technicals.

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