Several days ago, when this AT&T bid for MediaOne, I suggested that MSFT may actually work with AT&T - and this is what happened... at the time I asked if MSFT listening to my suggestion - and I'm glad to see they were <ggg>.
But seriously, this should be very good news for MSFT. The thing that I find surprising is that the selling pressure on MSFT is relentless.
I'm watching it on LII, rt volume charts etc., and it's just sickening.
I stayed up late last night working on my TA model, and it indicated that tomorrow (Thursday) MSFT should rise. But this massive selling has me somewhat concerned. It just doesn't make sense. I mean, the 5 billion is money well spent.
Anyhow, FWIW, I still think we'll see MSFT go up tomorrow.
It is harder to tell who is selling - last 2-3 weeks, it's been all of them: Lehman, Bear Stearns, Goldman S, Merril, etc. directly, and through INCA and BTRD.
This week, the big brokerage houses eased off a bit, and most selling is happening through ecns, INCA, BRUT, REDI. Also, I constantly saw ARCA selling (today it's absent thus far).
All in all, I don't know who is selling at this point. I hope we can catch a breather tomorrow. I'll look into a quick MSFT trade today.
BTW, my favorite of the last 3 weeks, NITE, has been wild today - down to 122, up to 133, down to 119, up to 136, now at 130 - love trading this pony!
Good luck to all! |
