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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Real Man who wrote (82293)	10/21/2008 3:47:50 PM
From: GROUND ZERO™	Respond to of 94695

Stopped out at 964.00, so I made 4 points on that longs, now flat...<g> GZ

To: Real Man who wrote (82293)	10/21/2008 6:45:59 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 94695

You chicken little! -g- Lehman's massive debt swaps settle smoothly Market Watch "The liquidation process for forward open commitments involving Lehman has been completed," said the Fixed Income Clearing Corporation, a unit of the Depository Trust & Clearing Corp., in a notice on its Web site. It said it was "pleased to announce that no loss allocations will be imposed on [mortgage-backed securities division] member firms as a result of the liquidations of these forward trades." The exchange between the buyers and sellers of credit-default swaps, a type of derivative contract that pays out when a company reneges on its debt, had spooked markets Tuesday. Some investors worriedsellers would be unable to come up with the cash to pay their counterparties, and these no-shows would usher in a new round of bank or fund failures. This type of domino effect turned what started as a U.S. housing market collapse into a global credit crisis. ... "It looks as though there was no major fallout from the settlement to member firms," said analysts at Action Economics. But they cautioned: "We'll have to wait to see if there was a broader market impact, however." .... marketwatch.com{70FEEA73-AAF6-4555-A10E-EE434BFC983E}