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Technology Stocks : USRX
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To: Janice Shell who wrote (17134)3/28/1997 5:27:00 PM
From: David Lawrence   of 18024
 
Janice,

>>And then there was the Big Unforseen Event: the collapse temporary, we hope) of the Toronto exchange in the wake of the Bre-X mess.

I've been wondering about that. Am I correct that BRE-X had a $5 billion market cap in the not too distant past? That's one hell of a lot of capital to just vanish from one equity in such a short period of time. You gotta believe that a lot of shares were held in margin, and resulted on a lot of margin calls over the past couple of weeks, particularly yesterday (not just in BRE-X, but other gold plays). Is that enough in itself to cause a sell off on a pre-holiday trading day, both equities and bonds, as investors raised cash to cover their losses?

David
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