GOLDMAN CUTS LEHMAN

Goldman cuts projections for Lehman, others
Tuesday August 19, 5:56 pm ET
Goldman Sachs analyst cuts 3rd-qtr projections for Lehman Brothers, others as more losses seen

NEW YORK (AP) -- Lehman Brothers Holdings Inc. received more bad news on Tuesday after another analyst projected that the investment bank will unveil a big third-quarter loss.

William Tanona, an analyst at Goldman Sachs, said after the market closed he believes Lehman will post a $2.5 billion-to-$3.5 billion loss during the quarter. He also believes that any recovery for the troubled industry is still a few quarters away, and that many Wall Street banks will focus on purging their books of risky mortgage securities.

No turn around tuesday

No turn around tuesday here this week. Maybe we get a turn around wednesday. I do expect us to test that 725 on the RUSSELL before we bounce.
Tomorrow watch that 1250 on the S&P if we open lower for a bounce.


MARKETJEDI

Just on FIRE here !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

LEH death-
SKF higher and wants more.
TWM come on just give it a few it will soon explode.

Don't forget Citibank, FNM and FRE. Banks are dead. DEAD.

Oil and Market

Has anyone noticed that Oil has been falling but the markets have been falling too?
I think short term Oil could test the $100 level and a matter of fact if it hits $102 it will be sub $100. Oil as many like Cramer has said is holding this market down NOT. the market has serious troubles and it is not Oil !!!!!

We are gapping down this morning on the Home Depot disappointed earnings, let see if we can get a turn around tuesday

I am not the only financial bear

http://biz.yahoo.com/rb/080819/usa_banks_crisis.html