I was watching CNBC at that time. They
had the chart up with the price changing as the trades went through (this
was pre-hour trade). The stock price actually traded up
initially something like $1.50-$1.60, then slowly turned and went
negative. There was plenty of time to get on the short side had
someone chose to do so. I huddled at $50-52 for some time before the
big break. From the commentary the intial reaction was that Bear had
been saved. It was only after it turned, did the talk go to senior
bond holders and whether there would be anything left for
shareholders?
Bottom line no one new whether to buy it or
sell it during that initial news?
Don Ewers
----- Original Message -----
Sent: Friday, March 14, 2008 1:06
PM
Subject: Re: [RT] Bear Stearns
news
The market had topped
@ 08:45 EST 1337.5. It started to retreat into the open and then went
straight down from there.
----- Original Message -----
Sent: Friday, March 14, 2008 1:59
PM
Subject: [RT] Bear Stearns
news
The Bear Stearns news came out at 917 EST this morning,
but the
market didn't respond until 923 EST. Can anyone here
tell me why it
took the market 6 minutes to digest and evaluate this
news? Or
direct me to any blogs where they discuss this
soft of
thing?
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