CEO, John Mack, sent a memo to his employees today saying that their stock was being driven down by "rumors and fear". I don't disagree with that. I actually think he has done the best job out of a bad bunch in terms of leadership. That said, I wonder why Mack didnt send a memo out to his employees in October of 2007 that markets were being driven higher by "rumors and greed."
- Breaking the $38.71 line was the tell. Look at this volume accelerate thereafter!
chart courtesy of stockcharts.com