Couple of things...Short Sterling and S&P puts

ok, a few days ago I paid 94.06 for Sep '07 Short Sterling, in £300/bp...think the market is overly pricing in an EXTRA rate hike after today's, although fully believe rates have further to go than today's 5.50% level. But at worst, the Bank of England keeps hiking in the near term, I lose money here, but it takes the housing market down and I get a step closer to buying an affordable flat! Win win both ways I reckon...

 

And also paid 16.21 in £100/point of SP500 Sep '07 1400 puts. Good falloff today in the indices could be the signal of something bigger, plus with HORRIFIC same-store April sales numbers out of a lot of retailers today. The end is nigh...