Monday, 11 May 2009

L: 49% S:0% G: 49% N: 49% ~ $D 0% $P 0%

The Raven has a couple of interesting price points, it looks as if the EUR has run out of steam and could have a decent reversal, with a similar price action developing in the SPX.

Its rather ridiculous that banks are raising money to pay back TARP funds, given the FDIC insurance that they will still receive for their debt, they should forgoe those guarantees if they are paying back TARP. To be fair to these banks, if it wasn't for the retrospective action of the Geithner and chums then it'd be a much clearer stable situation.

Happy Birthday Bill Ackman, he was on CNBC today talking about TGT, he came across as very reasonable and his proposal to put up 5 new board directors seems sensible and in the interest of the shareholder. His proposal for Fannie and Freddie also seemed like a really good idea, all in all the Raven rated him as sharp cookie.

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