20080911

The WIG Index continued downwards:



The WIG20 Index closed just below (-8 points), the low from 2006:



Both charts look too suggestive. We have not confirmed the breakout yet, therefore it is not reliable formation. Also, we are still above the lowest low from this year, therefore I would suggest to be cautious and observe. There are always few alternative ways of drawing current situation.

Update from 2008/09/12:
Lehman Brothers (LEH) seems to have a serious problems (here or here) and US government officials (Federal Reserve and Treasury Department) are actively seeking for a buyer. Lehman Brother fell down like a 90% (as of today) from its top (84.13 USD) in last 20 months. Also their bonds (high interest (LBHBX) and short duration (LBSBX)) do not seem to perform well.
As for sumamrization check this post from LinkedIn:



Update from 2008/09/15:
"Lehman Brothers Holdings Inc, once the fourth-largest U.S. investment bank, will file for bankruptcy after potential buyers abandoned talks and the U.S. government declined to fund a takeover of the crippled firm." (Bloomberg, article here)

Sources:
[http://bloomberg.com/apps/news?pid=20601087&sid=akVBbwBfM65w]
[http://topics.nytimes.com/top/news/business/companies/lehman_brothers_holdings_inc/index.html?inline=nyt-org]
[http://www.washingtonpost.com/wp-dyn/content/article/2008/09/11/AR2008091102580.html]
[http://online.wsj.com/article/SB122116292232524671.html]