Lehman

March 28th, 2008 9:26 am | by John Jansen |

Lehman had been up on the day but has surrendered those gains and is negative for the first time today. Citibank had put out a buy recommendation. I wonder if there is any quid pro quo attached to that!

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  1. 7 Responses to “Lehman”

  2. By S on Mar 28, 2008 | Reply

    yeah, too basicaly bankrupt institutions defending each other — Citi note indefensible — buy Lehman because the Fed has insured you against a move down. Interesting times we live in..And LEH out whining yesterday about the shorts – pathetic

  3. By S on Mar 28, 2008 | Reply

    yeah, 2 basically bankrupt institutions defending each other — Citi note indefensible —buy Lehman because the Fed has insured you against a move down. Interesting times we live in..And LEH out whining yesterday about the shorts – pathetic

  4. By hedgingrisk on Mar 28, 2008 | Reply

    I am an annoyed short… doubled down yesterday… I read the Citi report and laughed. I think it might be time to double my C short…

    HR

  5. By festerpig on Mar 28, 2008 | Reply

    … and Monday LEH will come out with a buy on MER! Is that what they call a den of thieves? Unfortunately this is the circus that we live in.

    festerpig

  6. By John Jansen on Mar 28, 2008 | Reply

    Thanks for all the comments. It seemed strange to me,too. I know i have some equity readers whom I do not wish to chide but they have a permanently optimistic outlook. Have you ever heard a stock jockey on the talking head shows tell you that he doesnt like the market and it is heading lower.
    So manyof them do that and then turn around and make ther “defensive” suggestions. That has always struck me as odd. The only equity worth purchasinh in that case is the high octane SDS.

  7. By festerpig on Mar 28, 2008 | Reply

    John,

    good point re equity readers/traders are what i call the perma-bull. For the past few year it has kept me baffled why of all markets, the equity markets are in your word, “permanently optimistic”. It’s either in their genes or bubblevision CNBC has successfully indoctrinated them. Everytime I have a discussion with a equity guy – I kept getting the question “why are you so bearish?”

    Yes for SDS and for that matter, any inverse ETF on the equities. High octane is probably an understatement – you need a very strong heart to weather the volatilities of these babies.

    festerpig

  8. By hedgingrisk on Mar 29, 2008 | Reply

    ok I followed C’s advice at the end of the day and covered half of my actual LEH short shares…

    While I doubled my C short at the end of trading…

    I have multi stages of puts of LEH, so no worries, I am still actually short the vast of my majority of shares…

    I love the story about them misplacing $250 million dollars… Whoops…

    Best to all…

    ~Stupid Equity Guy

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