Thursday, 23 April 2009

another day in the trenches

L: 2% S:44% G: 45% N: -42% ~ $D -26% $G 64% $V 1% $P 1%

The Raven hasn't really changed his positions around too much, he covered his AT&T before their results to reduce risk and was quite pleased that he had after their results. It was interesting to see MS disappoint, on the whole though results have been beating expectations, but guidance has been a bit weak across the board. The Raven remains short and really thinks we'll see a good retest.

Yesterday's UK budget just guarantees the Labour party losing the next election. The 50% tax rate is both disgusting and populist, especially given the analysis that at 45% they thought they loose over £100mm on the idea, so at 50% I'm sure it'll be more, well done. Oh car scrapping, why not pay farmers to dig their crops into the ground and builders to knock down some houses?

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