It depends... Was the buyout done through shares of BAC marked
to market on Friday or is it a cash deal? I wasn't able to find out
yet, but if BAC is using their stock, the jury is still out until
the market opens tomorrow to see how the market values their
stock.
It depends... Was the buyout
What would you do tomorrow if you were a MER ...
Posted by vmath on 14th of Sep 2008 at 11:24 pm
It depends... Was the buyout done through shares of BAC marked to market on Friday or is it a cash deal? I wasn't able to find out yet, but if BAC is using their stock, the jury is still out until the market opens tomorrow to see how the market values their stock.
Deal done with stock (no
Posted by dodgerdog on 14th of Sep 2008 at 11:26 pm
Deal done with stock (no cash) - I'd take the gift and sell immediately. BAC will likely be down causing SKF to rise.
Yeah Steve and for once
Posted by vmath on 14th of Sep 2008 at 11:35 pm
Yeah Steve and for once I'm not long the SKF. Well...I'm sutre there will be other opportunities. Look on the bright side.
The Pit Bull
Posted by vmath on 14th of Sep 2008 at 11:42 pm
As Martin Schwartz aka "The Pit Bull" used to say, " I'm short! I'm short! I'm way too #$%^&* short!"
Just covered my short position on SPX I took a couple of hours ago for 20 pts. Like Matt my week is done.
I bid you all good night and thank you for your company. Good trading!
So the jury is still
Posted by vmath on 14th of Sep 2008 at 11:31 pm
So the jury is still out but BAC would have to take one heck of a dive to make this deal unattractive. On Friday close BAC market cap was 154 billion.