**The billing statements are very significant. They are telling us that negotiations are ongoing, which means the ball can still drop at anytime. I don't think there will be a settlement in 2009 - as has been my position all along, but it's obvious that all the parties are at the table. How much progress is being made is questionable - but I think JPM is starting to see the mistake of walking away last March.
Why has Walrath not ruled yet? I think Mordy has put out the best answer - this is a complicated decision with many consequences either way it goes. It would be 'easier' if there was a settlement.
The next month will probably see some pain here, its tax loss selling season, and not too much gets done until the second week of January imo. I usually don't even bother watching the markets again until around Jan 5th or so...
I'll be waiting for some lower entry points here, and on KQ/PQ as well. I think Jan/Feb/March are going to be very significant and certainly want to be loaded up.
I'm also calling delays on the important issues for the 12/18 Omnibus. None of these lawyers want to get into these issues a week before Christmas. I expect another snoozer, with the real fireworks in the Jan/Feb/March hearings.
Relax, enjoy the holidays, and wait for some nice fire sales.
News 
Market Data 
Discover 
AI
