fredag den 12. december 2008

Market is long: Hope, hope and hope....the cynic Friday comment

No one seems to care for 50 bln. $ fraud scandale, no one seems to notice Obama is knee-deep involved in Chicago and that ALL PRESS, ALL WEEKEND will be on him trying to explain away how apperently the 2nd most important man in the US.. the Chief of Staff got involved in Chicago... dodgy politics....

Washington wud not be able to sell a cold Coke in Sahara, but pretends things are good

Jamie Dimon, CEO JP Morgan pretty much tell the world Q4 is TOAST - and that they have serious issue with earnings and potentially capital... but is long hope, hope and hope...

I bid you all a lovely week-end...and will not remind you that 2008 was the year of financial industry insolvency, it seems more and more 2009 will be the year of Consumer/Private insolvency, something much worse at its entails people losing their job.. as Reagan said: A recession is when your neightbour loses his job, a depression is when you lose your job... I am afraid...Depression is now the name of game - the key catalyst being EVERYONE on CNBC USA tells me its impossible.. making it a 99% certainty.........


Long 90% cash/fixed income - took profit on short cash S&P-500, took profit in the massive move in EURUSD.......took profit in Gold.....still MEGA long puts in STOXX50..... took profit in S&P500 put options (exp next Friday- decay starting to hurt).....and in our Allocation model we are:

All codes are Saxo system codes and number of shares/index based on 1mio EUR.....:

Short 12% S&P-500 (SP500.I) --- 145
Short 3% Stoxx50(Stoxx50e.I) --- 13
Short 3% Nikkei (NI225.I) --- 444
Long 3.5% Ultrashort MSCI Emerging market(EEV:arcx) --- 516
Long 5.0% Short DJ AIG Commodity Index(SALL:xlon) --- 520
Long 35% IShares 10-20 Y Treasury Bonds (TLH:acrx) --- 3838
Long 35% 7-10 Y Eur bons (IBCL:xlon) --- 2229

Safe trading,


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