Keep an eye on the markets today. After the announcement that Lehman Brothers will file for Chapter 11 bankruptcy, it looks like the stock market is set for a major sell off. Dow Jones futures values this morning are down nearly 360 points.
In my opinion, the biggest test today is twofold. First, how low will the market go? Secondly, will the market stabilize by the end of the day? If there is a huge selloff early but the market can then stabilize itself, we will see that it is just reacting to the financial news from the weekend. If it doesn't, then it will shine a light on the fact that this economy is in worse shape than some thought.
It is going to be a long day for some.