Hard to know what will happen.I would imagine Lehman would have...

Hard to know what will happen.

I would imagine Lehman would have had at least $50-$100 billion worth of stocks that now have to be liquidated - this will likely add selling pressure and cap rallies for weeks - in addition to other distressed sellers being forced to sell on margin etc due to liquidity crises.

I think there is a little way to go yet likely going down in sawtooth pattern - one day big fall, next day small recovery, next day big fall, next day minor recovery etc - maybe another 1500 painful points - though who knows really - this is just my conjecture.

One thing for sure though - there are some very cheap stocks around at the moment!!