I heard someone on the NYSE floor saying there is no way MER can go below $22.50 because of some announcement they did back in July, I guess some capital infusion. I have to do some research on this BUT my play stands on the MER puts. I think MER cracks $20 here easily.
MER at its best is worth $7 yes $7. with negative EPS and a market value of 36Billion this values MER in single digits.
Goldman downgraded MER with a price target of $22 in a year but when we break $20, we will be going straight to $10.
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