Sunday, September 14, 2008
Voltron says: It's looking ugly in Asia . . . Dow futures down 250 and the dollar down 2% versus the yen. Treasuries are rallying even though that's the last place you'd want to put your money. Gold is up 2.25%. It's quite possible gold will go down in the short term and the dollar will rise as people unwind their positions and raise cash. Don't bite off on the head fake. The big question that no one in the media is asking is WHAT DID LEHMAN HAVE ON THEIR BOOKS. Liquidation of these positions may be what moves the market in the short run. I have no idea what is on their books. I guess we'll find out on Monday.