Lehman Brothers

[Join The Paul Side]

So basicly the market could crash Monday?

 

[RonPaulVolunteer]

So basicly the market could crash Monday?

Define crash?

It's going to be a ROUGH day!

 

[ultimaonliner]

I don't think you get it. They just filed. Your short is now worthless. All trading has been stopped.

I'm going to assume that you don't trade.

When a publicly traded company files for bankruptcy, the stock continues to trade.

If there is sudden news, then the specialist on the NYSE will determine whether or not the news is worthy of causing an imbalance on the bids and asks.

If so, they will halt trading very temporarily.

Trading in the case of Lehman will not be halted because the news came out on Sunday.

LEH will trade probably in around 0.60 or so.

ALL of us who shorted LEH or were long on puts made a killing.




MER, on the other hand, blew up for me.

 

[ultimaonliner]

I don't think you get it. They just filed. Your short is now worthless. All trading has been stopped.

See my reply above.

But if you meant that my MER short is "worthless" because trading has been stopped, then I am dumbfounded by that statement.

The NYSE doesn't open unilt 9:30AM EST. It's not trading now excpet in the European markets, where MER is up approximately 35% with BAC down approximately 17%.

I'm not sure what is confusing you, but this is so fundamental, that I am perplexed you are trying to correct me on my ACTUAL positions that I hold.