CDS Lehman settlement day!

CDS Lehman settlement is a topic all it's own, and frankly considering all the dire predictions, the market fared well.

Dow Jones Industrials * 9033.66 -231.77 -2.50

S&P 500 * 955.05 -30.35 -3.08

Nasdaq Composite * 1696.68 -73.35 -4.14

Russell 2000 * 530.65 -16.19 -2.96

Actually Gold traded with the market. A good sign overall.


Central Banks Scramble to Buy Dollars to Bolster Banking Systems

If Buffet was right in calling this an early bottom, and hit it on his "time to get greedy day" announcement, then all I can say is that he is the Oracle of Omaha.

As Buffet focuses on controlling stock of companies with earnings, he might have bought early and.. and.. bought quality.

But today was not the debacle that some predicted.

Overall an orderly market trading day and an example of what intervention in markets is supposed to avoid, the news of CDS Lehman settlement.

Does that mean that the bailout rescue was a success???

Not definitively can be said now, but we do know that the CDS Lehman settlement didn't evoke systemic default and that I call a victory.