Longer-Term Market Trends Message Board

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Strategies & Market Trends : Longer-Term Market Trends

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To: morokko65 who wrote (905)	6/11/2008 6:00:59 PM
From: Johnny_Blaze_420	Read Replies (2) of 3209

rules were tightened but i don't believe ALL assets and deriviates are marked to market yet, specifically all level 3 assets. the bigger issue the higher capital required due to MBIA and Ambac downgrades. I believe that is why you are seeing a run on the BKX the last 4-5 days, specifically the undercapitlized banks and the smaller regional and nationals. In regards to LEH, not only is LEH probably next in line, the options market have been pricing this in for at least 2-3 weeks. Just this week i believe, they opened the market for strike prices below 17.50. Stock was at 31+ last week. With 2 weeks to expiration, those options only get opened if the exchange is pressed with demand for them. Same thing happened with BSC when it fell and I believe that happened the weekend before op-ex and they all cleaned up over the weekend.

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