| Goodbye Lehman -- 9/15/2008 |
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Lehman files for Chapter 11 Bankruptcy protection as they are unable to negotiate a successful deal over the weekend. One hour before the market opens, futures are pointing to an extremely lower open. What does the Lehman Bankruptcy mean to you? Well, if you are a TLO member, you sold Lehman at $73/share months ago.
Not a TLO member? If you hold Lehman stock, it is a total loss. If you hold bonds either directly or in a Bond mutual fund, you have a chance of recovering some of that money as the company is sold off in pieces through an orderly liquidation. Time will tell. What does this mean for the markets? We are headed lower, much lower. Will the mid 10000s level hold? Maybe, but over the next few weeks we may head to the low 10000s as firms continue to sell assets and de-leverage. In other news Merrill is selling to Bank of America, oil is going much much lower, AIG is in trouble, and much much more. Get The Limit Order for $6.65/month with a 3 month membership. The Limit Order stock picks continue to outperform the market, Register for free and check it out. |
