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Toddo on TV: Lehman's Long Road


Markets, movers and more.

Toddo wonders if Lehman Brothers' (LEH) $6 billion capital raise is the right formula for a turnaround, or if investors will lose trust in the firm as a result. All of the bank offerings to date have been dilutive. It's a slippery slope, a tough road to hoe.

Back in the saddle, Todd's watching the Street as the Street watches lower levels on the S&P, which is a technical negative. The founding Minyan talks fixed income action and the odds of a rate hike being priced into the marketplace, and highlights this related Buzz post by Professor Sedacca.

Now, traditional trading is an assimilation of four primary metrics -- technicals, fundamentals, structural forces and psychology -- but seeing as the Federal Reserve has taken such a proactive stance, Toddo notes that the discipline's been boiled down to a game of chicken, with cumulative structural imbalances on one side and an aggressive agenda on the other.

With that in mind, technical levels are more of a context than a catalyst with with to frame risk and the S&P at 1340-1350 is a pretty important line in the sand that must hold if there's any hope for a summer rally.

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No positions in stocks mentioned.

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