From bad to worse

Just a quick update on one of the 4 political contracts being followed on this blog. This one is the Kennedy for Senate contract.

The news from the market is getting worse and worse. Now that the Klobuchar-Kennedy reactions to the "stolen" ad via a hacked password has had some time to enter the market the tealeaves show very little promise for Kennedy.

As of this moment the last contract traded at a 9% chance for Kennedy to win. There are no bids to buy "Kennedy wins" contracts (and there are no "Klobuchar wins" contracts for sale meaning those holding them expect the price to ride closer to 100% payoff).

I'm just the messenger.
********** UPDATE ********** 9/28/06
Finally, someone made a bid to buy "Kennedy wins" contracts...at 5%.