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LEHMAN: WILL THE TRUTH COME OUT?
   
2
March 12, 2010
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Scandal and criminal charges may result with the investigation into Lehman Bros. collapse.  All manner of assertions are being made including that Lehman knowingly cooked the books to more extreme allegations that Geithner was knowledgeable about the company’s true condition.   Hearings are beginning as the newly released examiner’s report by Anton Valukas is evaluated.

 

Friday ended the week with mixed performance and conflicting economic data.  Retail Sales were stronger than expected but Consumer Confidence was weaker.  Put those two together and you’ve got consumers looking for comfort by shopping.

 

Volume continues on the light side and breadth was mixed to flat per the WSJ.

 

 

 

 

 

Many market sectors are up against serious resistance while others are breaking-out.  This may be good since everything has been moving in the same direction for a long time.  In other words, being in the right sector will become important again versus just being in any sector.

 

Next week we’ll get plenty of economic data in addition to another FOMC meeting per Briefing.com below:

 

 

We did an important quarterly update podcast with Business Monitor International (London) here.  We discussed their near-term forecast for global markets with emphasis on BRICs, commodities, currency and major markets.  They’re a smart bunch and we benefit greatly by our discussions with them.

 

Let’s see what happens.  You can follow our pithy comments on twitter and become a fan of ETF Digest on facebook.

 

Disclaimer:  Among other issues the ETF Digest maintains positions in: UUP, KRE, KBE, IWM & MDY


The charts and comments are only the author’s view of market activity and aren’t recommendations to buy or sell any security.  Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period.  Chart annotations aren’t predictive of any future market action rather they only demonstrate the author’s opinion as to a range of possibilities going forward. More detailed information, including actionable alerts, are available to subscribers at www.etfdigest.com.

 



LEHMAN: WILL THE TRUTH COME OUT? has (2) comments
David Fry
David Fry: Comments (61)
March 13, 2010
The US govt? They've been cooking the books for years.
barrie
barrie: Comments (6)
March 13, 2010
Well I urge everyone to read the Lehman report. For me as a UK investor in US stocks its what goes around comes around yet again. I wonder what the next accounting problem will be in a few years time?

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Market Summary
NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index NYSE Composite Index S&P 500 Index Nasdaq Composite Index Russell 2000 Small Cap Index 10 Year Treasury Note Yield Gold Bugs Index Morgan Stanley High Tech 35 Index Market Chart
Commodity Quote Change Change % NY
Gold1,102.50-8.10-0.73 %17:14
WTI Crude Futr81.24-0.87-1.06 %03/12
Index Quotes Change Change % Local
CRB273.31-0.08-0.03 %03/12
US Dollar79.81-0.46-0.58 %03/12
Index Quotes Change Change % Local
VIX17.58-0.48-2.66 %03/12
MSCI Value Daily MTD YTD
Brazil3557.36-2.29 %7.45 % 117.15 %
Russia816.12-2.99 %8.44 % 105.56 %
India448.14-2.36 %7.25 % 91.80 %
China66.42-0.92 %5.49 % 62.76 %