Bears are back, what’s now Hank?
From the open … until the close … SELL pressure …
JPMorgan, Wells Fargo, Coca Cola … all better … all did not matter
All economic data was weak … Beige Book superweak
Friday expiration … let’s see, who still has to sell because he sold puts “riskfree” 
Key for the market seems to be the Lehman CDS settlement next week … Payouts/losses of up to 400bln$ are expected.
Many fear, that some counterparties will go just belly up …
If the market still opens after the settlement, it should bounce … and if it is on the investment of these 400 bln$.
Positives are the now really bad sentiment and the extreme readings of the VIX.
Interesting times 
So … any new moves, Hank?
Tags: beige book, CDS, Hank, VIX
