Pre Market

Most of the indices in Asia ended in the green though China is down over 8%. Europe is red all across the board. I'm am still a little surprised that a drop in Shanghai of over 15% in the last few trading sessions has had no effect on other markets.

Palm shares are skyrocketing this morning on news of plans to sell a 25% stake to a private equity firm.

Flextronics is acquiring Solectron in a deal worth $3.5 billion.

JP Morgans Highbridge Capital Management is starting a $2 billion buyout firm. When money is cheap, everyone wants to get in on the act.

Pre market futures are pointing to a lower open in the US markets. This could turn out to be another buy the dip day but I would proceed with caution.