TheStreet's Action Alerts PLUS Portfolio Manager Jim Cramer said Canadian Pacific (CP) could make a bid for another railroad, after abandoning its plan to merge with Norfolk Southern (NSC) , but the antitrust environment out there makes it difficult for any railroad mergers to be approved by regulators. The government recently nixed Pfizer's (PFE) $160 billion merger with Allegan (ACT) .
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How quickly do we find support, is what we'll want to know now, as the correction is occurring while economic optimism builds.
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.