Another Lie from financial firm

6/9/08

This morning, LEH has announced they need to raise $6 billion for their book because they are going to report their first ever loss quarter earning since they went to public trading company. I laugh at those who said the credit crunch is over. It apparently proves that it is not. It will get much worst before it gets better. CFO of LEH told the whole world that they have held over $40 cash equivalent but why they still need the cash. Common sense, folks, they lies what they have even they could borrow from Fed directly, but it seems the Fed plan did not work at all. In this situation, cash equivalent does not equal the CASH and all Fed plan are not going to work as they would think. Look at stock value of WM, it is going to under $5 soon, so is C. All I want to say is time would prove if Fed plan works, credit crunch is over?. housing keep going down?....etc. I hate to say but Market WILL going to crash for sure this summer. Summer rally downward. Technical Analysis does give me an edge before those garbage stocks going down and down..and down.
Good luck on whoever think bullish about the stock market and US economy.