No change … bears are still in the market’s driver’s seat
Lehman CDS settled … no big damage … but no bounce
Another FED program to stabilize the market … no effect
Why?
- Still redemptions hit the hedge funds and others.
- Deleveraging continues.
- Emerging markets keep imploding … today Argentina.
- Quarterly earnings are not good enough to get […]

First reaction after the forced short squeeze on equities last Friday …
Get out of the equity market … back into commodities …
Oct. Crude expired today and had a MONSTER SQUEEZE up to above 120$ … WOW
November trades still well below 110$ …
These expiration related moves … as we in Germany saw it last week in […]

Good morning …
Where do I go wrong?
1. MER gets taken at a HIGH PRICE … POSITIVE
2. AIG gets loan from the FED … POSITIVE
3. LEH bites the dust … freeing the FED from this stupid automatism … BUT makes sure, assets won’t flood the markets … assuring liquidity from a lot of the BIG banks […]

Lehman seemingly finds NO BUYER … AUTSCH!!!
Domino about to start?
WSJ says, that Bank of America and Merill Lynch are in merger talks …

The WSJ reports, that talks on Lehman are going NOWHERE … AUTSCH!!!
Nobody wants to invest without a Government backstop …
So … question of tomorrow is … will the Government … AGAIN … change its opinion and backstop it ???
OR … will they allow Lehman to fail???
IF they let them fail … the domino […]

Lehman seemingly will be sold over the weekend … market cap is down to around 2,5bln$
It will be extremely interesting, who will snap them up … the list of buyers is not as short as everybody thinks …
This time … we were told today … from the “everchanging-the-rules” FED
WITHOUT financial help of the Government (read: […]

Another one bites the dust … ???
Rumors fly as Lehman falls another 40% on WSJ article of higher losses …
CDS spreads for Lehman reaches the Bear Stearns k.o. level …
Rumors of today … this was the reason for the squeeze into the close …
- Lehman will be taken by Bank of America and losses backstopped […]

Announcement day for Lehman … BUT … “nothing”
All they said is to be said in short words …
We will do whatever saves us … we are buying time …
And as nobody seems to be interested … Lehman considers:
- Some fire sales
- Selling a majority stake in their Investment Management Unit … Autsch!
- Spinning off some […]