We are hoping for LM to stabilize around the %125 area , in line with the offering (secondary) price. Definite support is needed at the $125 or slightly below it. It the mid $124.5 - $125.50 area can not be hold, we may end up in a position where our stop limit may come into play limit position. Secondaries are usually stablized by the underwriter near the offering price so that individuals won't sell on a a slight run up and take a proift
This support at the $125 level is mainly because of stabilization. How much the underwriters will stabilize and for how long, only time will tell. We will have to watch cthis position in LM losely tomorrow and maybe the rest of this week, if we are able to maintain the position.
We are watching this position, if necessary we may issue a liquation of this position at any time.
MARCH EXPIRATION WATCH LIST 3-13-06
MARCH OPEN ORDERS 3-13-06