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Non-Tech : Auric Goldfinger's Short List
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To: JEB who wrote (604)11/1/1998 8:31:00 AM
From: RockyBalboa  Read Replies (1) of 19428
 
BT block trade is quite impressive,...

SBC Warburg traded the 129k for 62,5 up some $2 3/8.

But not if you consider that SBC had enuff time to gather the pieces around 62 and 62,25 in the open market just in front of the trade. Just see the intraday chart for BT between 10.00 and 12.00 on Friday on DTN. If fact the price was not extraordinarily affected by the block.

Note that BT has a daily turnover of a 1,3 M shares, so 200k should be easy to be unloaded within days or hours if the agent is cautious.

There might be some phantasy in BT but the financial sector provides better opps to short or daytrade.

C.
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