another leg down

If Lehman follows Bear Stearns into oblivion then the OZ market will be pummelled.

Stocks with shonky business models will be destroyed.

Companies with huge debts will not make it.

We could see another 1000 points off the Ords by the time this is over.

It is going to get very ugly in OZ in the next few months.

People will sell first and ask questions later in this environment.


http://business.theage.com.au/lehman-denies-tapping-fed-aid-20080604-2lh8.html