Our market is flat today, due to the uncertainty over the next Fed move. After watching Bank of America(BOA) invest $2 Billion in Country Wide Financial (CFC)today, I heard the CEO of CFC say he expects a recession.
Flat is a scary place to be in the marketplace, and that is why we see a lot of moeny on the sidelines waiting to see what will happen next.
Certain deals are getting done, such as the Whole Foods and Wild Oats($565 million)
transaction. While others such as the Home Depot sell off of their wholesale supply unit($10.3 billion) fall apart.
The market is looking for another Fed move, and continues to look much more like a hibernating bear instead of the energetic bull, we have all learned to love.
Thursday, August 23, 2007
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