# MER jumped 5% Friday US



## markrmau (14 January 2008)

I originally thought the 11/1/08 weakness on the XAO was due to reports of US15B writedown from MER.  However, MER rallied 5% on NYSE on 11/1/08 US time. 

Can anyone explain? This would seem to indicate a classic MER buy signal.

Perhaps the real reason for the XAO weakness was the credit card weakness report?


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## RichKid (14 January 2008)

markrmau said:


> I originally thought the 11/1/08 weakness on the XAO was due to reports of US15B writedown from MER.  However, MER rallied 5% on NYSE on 11/1/08 US time.
> 
> Can anyone explain? This would seem to indicate a classic MER buy signal.
> 
> Perhaps the real reason for the XAO weakness was the credit card weakness report?




All the best for the New Year markmau! 

I'm not much good at fundamentals but is it follow through selling after the release of the unemployment numbers earlier? Otherwise could be the credit card figures affecting Merrill Lynch.....I still think a lot of this stuff is priced in beforehand and the crowds panic late. Just guessing here really, the charts don't paint a pretty picture.


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