Merrill Lynch (MER – $44.38) is turning trees into money, according to the Wall Street Journal Online. I am sure many will ridicule this as a fake and short-sighted public relations move. However, any step in the right direction is a positive one. With today's central bank move to inject liquidity into the system, the entire financial sector is up huge. Just like yesterday, I'd still rather buy the XLF over Merrill.
photo by David Neubert
Disclosure: I own XLF. I do not own MER. I have traded MER in the past year.