Thursday, March 15, 2007

ICE to buy CBOT, new offer bests CME.

Let the BIDDING WAR begin!

CME aka The MERC....CME offers 8mil for CBOT....ICE beats offer at 9.9mil....shares of ICE dropped due to the cost of acquisition...but once they lock in the deal, look for nice long term growth from ICE.

We added ICE as a trade, it gave us a quick 5%, and now almost back to our entry for another BUY.

the news:

BOT jumped 194.95+28.86 (17.38%) ....a nice testament as to the power of the exchanges!

ICE down to $128.10 -3.83 (-2.90%) on the thought of spending 9.9 for re-buy.

CME down to $532.88 -31.09 (-5.51%) ....and news is they are up'ing their bid too....uhhh ohhh..bidding war.

Lets watch this action, overall this should result in positive news for the exchages as a whole...attracting new buyers to our babies, ISE, ICE, NYX, NMX!...CME down 5%+....hmmmmm....can you say buy on the dip?!

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