Friday, 20 March 2009

L: 16% S:35% G: 51% N: -19% ~ $D 15% $G 1% $V 0% $P 1%

Even though its triple witching today, the Raven doesn't expect too much to happen today, he's still going to be interested on the action on the close though as its not a bad indicator of how the quick money is positioned, ie. move up into the close and the market is short, or vice versa. Its been a good week for short term trading and the Raven has been slightly lucky to have caught the big move in EUR/USD and a couple of large short term spx shorts which took the beta in the portfolio to -250% yesterday. With the Raven's growing confidence he's scaled back as it always seems to be the time you take the biggest whack.

Obama came across as a complete fool and showed his lack of knowledge and grasp of the detail. He implied that their were individuals at AIG that expected to be paid $100mm each? how on earth can he claim to be on top of the detail? Geithner was the regulator of AIG, he's skating on thin ice with his grandstanding, he signed off on the deal. The fact that the US is looking to pass retroactive laws to undo contractual obligations is nothing short of disgusting, slimy and shakes my confidence in the US legal system. With a president going on chat shows and congress responding to mob rule the Raven can only hope that the supreme court remains the check and balance in this sorry story.

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