Washington Mutual being the latest financial to call it quits, we now move into the weekend with more questions than answers. While there has not been much of a range today, volatility remains firm. Asian markets will have a jump on markets on Sunday evening and will be able to trade on data coming out over the weekend.
The downside risk here is that crude sells of with financial markets. The outcome of Morgan Stanley still remains to be seen. Credit default swaps were trading higher as of Friday evening for MS debt.
Hedgers protecting inventory may want to consider the WTI 90-105 put spread here for $3.90 per bbl. If the market drives back down to $90, this trade will prove to be very beneficial. Please contact HCEnergy Asia for up to date strategies Monday AM Asia time. Likely there will be some short term strategies that will pay off quickly. HCEnergy will provide liquidity to customers as of 0900am Singapore time.
NYC, 16h00 Fri.
Friday, September 26, 2008
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