As suspected, YHOO and SUNW did give a lift to the tech Nasdaq, but the mirth has only nominally spread into the broader market. YHOO and SUNW are pretty much 49th string players... almost like a pro football team calling the temp agency for relief players. But the bulls will take what they can get and the overall market is holding on to gains. XLY, XLE, XLI are lagging today; only XLK is up more than 1%, and XLP, XLB and XLU are each up less than a half percent.. not much power at all.
Even in the deal-o-rama world, word that Goldman and Morgan and circling for some of the energy assets of Dominion (D) is enough to get the stock higher by only about 2%. By the way there are some funny conspiracy theories already making the rounds about how it smacks of desperation that Goldman and Morgan, rivals extraordinare, are working together to cobble this combo to support the energy market. LOL! The market has already spoken with an almost non reax in D shares and what ever happened to the idea of companies wanting to shelter their risk and having to pay for that ability? I'm a suspicious guy by nature, so the conspiracy theory is too easy. Plus, a $16 bln deal is needed to support the energy market? I'd say history is on the side of the energy bulls, or has it become unfashionable to remember facts such as when gasoline, really not that long ago, was 20-cents a gallon?
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