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The Bear Up in the Air - $2 or $10?
It appears that the street, investors, day traders and the general public all though the Bear deal at $2.00 a share was a done deal. Surprise, surprise - JP Morgan upped the ante to $10.00 a share. This news created a nice positive tone to the markets today however, I doubt if many investors who dumped their shares last week are doing little smiling. After all, the increase in the share 'offer' could have helped those who took a beating, lighten the pain, just a little. Regardless, the markets moved nicely higher as we began a new week, after the extended holiday weekend. Even news from Chicago Fed that they confirm that it appears a recession has begun, didn't dim the positive trend, across the board today.
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