I sold out of half of MCC right after the second announcement (which was probably a stupid thing to do) - it got up to $16.71 but retraced to close at were i sold it. Im hoping to buy in some more on open on Monday, with the Dow down, our futures down more than 1%, it might be a last buying opportunity should there be one more offer tabled.
Ive seen a few broker reports of late detailing potential takeovers following MCC, Riv is right up. If NHC fails in their attempt at MCC, i wonder if they could divert interest back to RIV? The bidding war would probably not be as fierce, and could probably clean this one up for around $12.50 or so. (i personally would be happy to see $11) remember that Noble are willing to take GCL for $12.60.
Still trying to make sense of the sharp movement in RIV yesterday, if the Dow had held up last night, im sure we wouldve seen most of that -3% regained.
RIV Price at posting:
$9.17 Sentiment: ST Buy Disclosure: Held
