TO THE RESCUE

Missed all the great action yesterday with some personal business but looks like the markets will continue on their merry way lower again this morning.

Some good news - Larry Ellison getting his way on BEAS as ORCL is buying the company now for 19.375 per share all cash with the deal to close in mid 2008. So one for the good guys as I am long a bit of BEAS.

More good news from MGM- with the stock a recent crushing (slowing consumer spending) victim the board announced that they are increasing their tender offer by 50% to 15 million of the Co's shares at $80. The Co also says they see positive results as foreign tourists flock to the casinos on the heels of the deflated dollar.

So should be interesting to see if the value guys come in and buy the cheap market or if the scared longs unload at/near what is no doubt the bottom (lol).