DJI under 9000

I,_Brian

Interestingly, though, I've been hearing a lot of "buy" optimism after October - today is probably going to be pivotal because of the CDS swaps on Lehman coming up, and WaMu I think is on the 28th. If damage from these remains limited, it could certainly restore some degree of confidence.

2c.

sabretoothtigger

Sellers of credit-default protection on bankrupt Lehman Brothers Holdings Inc. would be forced to pay holders 90.25 cents on the dollar under initial results of an auction today, setting up the biggest-ever payout in the $55 trillion market.

Preliminary results of the auction to determine the size of the settlement on Lehman credit-default swaps set an initial value of 9.75 cents on the dollar for the debt, according to Creditfixings.com, a Web site run by auction administrators Creditex Group Inc. and Markit Group Ltd. A final price is scheduled to be announced at 2 p.m. New York time. ]

The payment would be higher than indicated by trading in Lehman's $128 billion of bonds yesterday. The debt was trading at an average of 13 cents on the dollar, indicating credit swap sellers would have to pay 87 cents.

I think the sp500 will fall to 800 or so before hopefully rising.
Im told there is a glimmer of hope right now at 860 and I guess that depends on the news but is the dust really going to settle before the weekend, probably not but maybe next week

rail.link

I'll jump in when it hits 6000 !