Index: /trunk/ccl/compiler/nx0.lisp
===================================================================
--- /trunk/ccl/compiler/nx0.lisp	(revision 5496)
+++ /trunk/ccl/compiler/nx0.lisp	(revision 5497)
@@ -436,6 +436,8 @@
                   (if (eq op (%nx1-operator lexical-reference))
                     (let* ((var (cadr form))
-                           (punted (logbitp $vbitpunted (nx-var-bits var))))
-                      (if punted
+                           (bits (nx-var-bits var))
+                           (punted (logbitp $vbitpunted bits)))
+                      (if (or punted
+                              (eql 0 (%ilogand $vsetqmask bits)))
                         (var-inittype var)))
                     (if (eq op (%nx1-operator %aref1))