Stocks Tumblin when Banks Crumblin?

Trademaster J is shakin in his boots. This morning could yield major badness in the market. A few hours ago, Lehman Bros declared bankruptcy and the effects of this could be ripplin. The last time I remember the major bankers getting together on Sunday (exceptin for golf) was the collapse of Long Term Capital Management in September of 1998. But in the case of LTCM's collapse, the banks were in a position to step in and swallow the money shot, this time, not so much. Will lettin Lehman fall start a domino in the barrio? Soon, we will be able to buy shares of all our favorite banks over the pink sheets, am i rite?

Last time we had a Black Monday, we at least had the Asian markets around to let us know shit was going down. This time, Asia's closed, and we can just watch index futures in Sunday trading tell us things will be bad, but by no means HOW bad.

I'm shakin in my boots cause I got some longs, some iron condors, and close to maxy margin. I won't be surprised if I wake up with a "MARGIN CALL, BIATCH!" message on my phone and a hangover. Specifically, I'm holdin AMD, AMAT, UNG, GLD, ESLR, and probably some other shit. GLD might do alright cause the dollar just got smacked around like a ho. Euro pimped up 2% on the dolla Sunday evening.

On a brighter note, I cashed out my Canadian DII.B shares for some mad money (see previous postin). Converted that cash from CAD to AUD for Australia's wicked-high interest rate, though lookin at the AUD-in-USD chart, AUD's pricing action is the edge-of-a-wedge, could fall further.

Imma end this post by givin hollaz to all the playaz who can now say "I told you so, biatch!" on the subject of LEH:

• David Einhorn - Dude runs a hedge fund, publicly announced he was short on LEH several months ago, said their CDOs were trash; he was right.
• Ron Ianieri - Said Lehman would fail, thinks Morgan Stanley can survive.
• Kenneth Rogoff - Former IMF cheif economist. Said "we’re going to see a whopper, we’re going to see a big one — one of the big investment banks or big banks" well after Bear Stearns collapsed.