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Strategies & Market Trends : Aardvark Adventures

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Dec 12 9:30 AM EST

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From: ~digs	7/7/2010 6:42:56 PM
	of 7944

Despite President Obama's hope that the NBA free agent will leave his native Ohio for the Windy City, traders are betting that the superstar will announce on Thursday that he's leaving the Cleveland Cavaliers to play for the New York Knicks. Shares in Madison Square Garden Inc., the owners of the Knicks, jumped $1.30, or 6.4 percent, to close at $21.57 Wednesday, adding 3 cents in extended trading. Volume was up dramatically at 1.7 million shares traded, more than five times the daily average of 311,000. The basketball star is set to announce his decision during a one-hour special on ESPN at 9 p.m. Thursday.

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