Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: zonder who wrote (32743)	6/27/2005 11:49:29 AM
From: mishedlo	Read Replies (1) \| Respond to of 116555

Cashed out the last 2/3 of my June 06 Short Sterling 95.75 calls for 24 What a silly ride.... Paid 11.5 rode them to 18 down to 4.5 back up to 24 Why didn't I cash out at 17 and buy them all back at 6? Still holding a bunch of sept 06 95.25 calls I decided to write 96.25 calls for 9 against those. Paid 32 so my cost basis for a 100 bps spread is 23 Bring on the cuts. I need about two cuts just to break even over cashing them out. Looking to do a bit better on the ones I am holding Mish

To: zonder who wrote (32743)	6/27/2005 12:02:43 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

UK mortgage approvals down 3 pct in May vs April, 17 pct yr-on-yr - BBA UPDATE Monday, June 27, 2005 9:19:53 AM afxpress.com (Updating to add figures for personal loans and overdrafts lending) LONDON (AFX) - UK mortgage approvals fell 3 pct in May from April and were down 17 pct on a year earlier, according to figures released by the British Bankers Association There were 186,442 mortgage approvals in May, with a total value of 16.5 bln stg. The average approval for house purchase was 125,400 stg, the BBA said Mortgage lending figures showed a very modest increase, however, suggesting that the UK housing market appears to be have stabilised "Levels of loan approvals fluctuate with seasonal patterns, but the volumes we are seeing suggest that a fairly stable lending picture will continue in the near term," said David Dooks, BBA director of statistics Seasonally-adjusted net mortgage lending -- gross lending minus repayments -- rose 4.3 bln stg in May compared with 4.0 bln stg the previous month Despite the increase however, the latest figure remains below the average rise of 4.5 bln stg over the past six months, the BBA said Gross mortgage lending totalled 14.3 bln stg in May, up 2 pct from April but 8 pct lower than May 2004 "Whilst mortgage lending was slightly stronger in May, it is noticeable that all measures were below comparable data a year earlier, when May was a relatively weak month," Dooks said Meanwhile, within consumer credit, credit card lending rose 117 mln stg, slightly up on the average of the previous six months but remaining weak, reflecting the subdued retail sales environment, Dooks said New lending on personal loans and overdrafts was well up on both April and the average for the previous six months, however, the BBA said Net new lending on personal loans and overdrafts rose by 723 mln stg on a seasonally adjusted basis in May, considerably higher than both April's rise of 426 mln stg and the average rise of 597 mln stg over the previous six months

To: zonder who wrote (32743)	6/27/2005 12:07:18 PM
From: mishedlo	Respond to of 116555

Oil soars to nearly 61 usd/barrel on heightened supply concerns, Iran election Monday, June 27, 2005 9:36:23 AM afxpress.com LONDON (AFX) - World oil prices surged to fresh record levels, approaching 61 usd a barrel in New York on heightened supply worries, and amid an election victory for the ultra-conservatives in OPEC heavyweight Iran New York's main contract, light sweet crude for delivery in August, shot up 76 cents to 60.60 usd a barrel in electronic deals today It had reached a historic high of 60.64 usd earlier today -- the highest level since it was first traded in 1983 -- after reaching 60.47 usd overnight In London, the price of Brent North Sea crude oil for delivery in August jumped 74 cents to 59.10 usd per barrel after earlier hitting 59.21 usd -- a new historic high Persistent supply concerns could push prices up even further, analysts said "People are getting more and more concerned about the second half. OPEC is going to be very streched in the fourth quarter to meet demand," said Investec analyst Bruce Evers "I think we could see 65 dollars, 70 dollars quite quickly." Prices are reaching fresh records amid continued fears that refineries will struggle to turn enough crude oil into heating fuel to meet fourth-quarter demand amid the onset of the northern hemisphere winter Meanwhile, traders were keeping an eye on developments in Iran, the second biggest member of OPEC, after news yesterday that the ultra-conservative Tehran mayor, Mahmood Ahmadinejad was elected president