Friday, 10 July 2009

more dollar drivel
China wanting someone else to eat the currency risk that they've built up, well pull the other one, they've dominated manufacturing and protected their economy, manipulated their currency, restricted capital flows, had a dubious track record of investment in Africa and they still want the West to bear the financial risk of their dollar assets? wtf?

Looking at the vol surface a bit closer today, the Raven has completely changed his mind, he'd like to sell 1by2 put spreads and maybe buy some back months selling front month - but more work on this today.

He's also looking at EMC again, they've won their M&A battle, the whole segment is very *HOT* at the moment, he also notes that Bill Ackman likes EMC and he's seen other hedgies getting involved, which means its too late. Saying that the stock has been technically a dog recently.

The Raven also refreshed his Enterprise Inns model, still doesn't like the stock, its a buy at 30p and then only maybe, its currently at 125p ish and he's going to short it on weakness.

L: 141% S:182% G: 323% N: -40% ~ $D 0% $G 0% $V 0% $P 0%

As you can see the leverage has been chocked up yesterday, this reflects greater intraday trading thats being carried overnight.

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