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What a resilient stock market!
After a stock market correction of more than three weeks, the Dow Jones Industrial Average bounced back from its 200-day Moving Average like magic, gaining back 2.67% in a matter of days.
Even more miraculous is the movement of the Merger Fund (MERFX), pictured above. That index has taken back in four days what 18 days of trading took away. It’s gained ground back above its 10-day, 200-day, and 50-day Moving Averages, up 3.88% in four trading sessions, almost back to where it was before the stock market correction occurred.
Why is the MERFX fund (which focuses on investing in companies involved in buyouts, takeovers and mergers) up again?
Well now that the market looks healthy, traders and investors alike who had gotten skeptical of all “positive” market moving events, even M&A activity, can now breathe easier. In fact, takeover talks are pushing the market up yet again, like it moved during the first half of the year.
Recent news is that online brokerages TD Ameritrade Holding Corp. (AMTD:NASDAQ) and E*TRADE Financial Corp. (ETFC:NASDAQ) are in talks about a possible M&A deal. And Nymex Holdings Inc. (NMX:NYSE) has announced that it’s been “talking” about possible deals with other parties.
M&A activity is alive and well on Wall Street. At Diligent Investor, we’re still holding some of our M&A recommendations, and at present levels, they offer up good buy prices.
Ann Sosnowski
Editor, Diligent Investor
An Amazingly Simple Way to Own America’s Best New IPOs for Only $14.00
Although you won’t hear about this in the mainstream financial media, the Dow’s historic 13,000 high has sparked a new bull market in the IPO sector. Now, for the first time ever, a new investment we’re calling the “Secret IPO Registry” allows you to profit off the best new companies on Wall Street without the risk or the hassle of “getting in” on each new IPO offering.
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Follow this link for the full details.
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