prr weekend thoughts..., page-19

i said Who Knows... Who can perhaps be revealed as S&P

PRR and the Australian market will be first to walk into a looming hurricane next week

with the US downgrade this morning, (AA+ from AAA), other areas that will also be affected and also re-rated are:

all US Government Sponsored Entities,
financial institutions,
insurance companies,
public finance institutions,
and the structured finance sector...

so i think it's pretty reasonable to say PRR is going to be under huge market wide pressure next week

the re-rating of the above areas/sectors/institutions will take place next Monday, US time

already there is talk in the US of another possible Lehman type reaction

this is major news needing to be tracked all weekend - keep an eye on CDS trading possibly starting in the US about midday Sunday, US time



good luck