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Choose Your Own Lehman Adventure

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Lehman Brothers kicks off the volatile Wall Street earnings trade Thursday. What's the trade as the Street prepares to hear from Lehman (LEH), Goldman (GS), Bear Stearns (BSC) and Morgan Stanley (MS).

Pete Najarian recommends selling LEH if Lehman posts “decent results.” Najarian also expects Goldman and Morgan stock to get dragged down on Thursday by Lehman news.

The one thing that’s relevant in the Lehman data is the write-down, Karen Finerman interjects.

Guy Adami agrees. He’s also worried about downside in LEH.

Jeff Macke says Lehman can’t win, “If they say everything is fine, the Street will say “liar” if they say everything is terrible the Street will say “I told you so!”

Symbol
Price
 
Change
%Change
GS
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Trader disclosure: On Dec. 12, 2007, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Macke Owns (ATVI), (YHOO), (INTC); Najarian Owns (CSCO), (ADCT); Najarian Owns (GOOG) Options, (GS) Options, (TSO) Options, (YHOO) Options, (BIIB) Options; Finerman's Firm And Finerman Own (GS), (FTWR); Finerman's Firm Owns (VLO), (SUN), (YHOO), (TSO); Finerman's Firm Owns (MDY) Puts And Is Short (MDY); Finerman's Firm Is Short (SPY), (IJR), (IYR), (IWM), (MBI); Finerman's Firm Is Short (LEH) And Owns (LEH) Puts; Finerman's Firm Owns (BIIB) Options; Finerman's Firm Owns Russell 2000 Puts; Finerman's Firm Owns S&P 500 Puts; CNBC Is A Service Of NBC Universal And Dow Jones; GE Is The Parent Company Of CNBC; NBC Universal Is The Parent Company Of CNBC; Vivendi Owns 20% Of NBC Universal, The Parent Company Of CNBC