annoying volt lehman night, page-24

For all the melodrama the DJIA still going sideways. Didn't have the strength to get through the midway resistance at 11,400 but market obviously not as worried about Lehman as thought. If that's the worst the bears can throw at it I don't like the chances of it breaking lower. May still be 11,269 at Christmas.

Here's why Lehman are right to play for time. The CDOs that are the cause of their huge losses have charts that look to be breaking upwards, potentially reversing their losses in coming quarters.





Meanwhile mortgage rates continue to plunge...