Friday, February 08, 2008

A Far Cry..

Trichet's tone last night was a slightly dovish, by highlighting risks to the downside, and citing "an unusually high level of uncertainty". Trichet also forgot to reiterate his famous "vigilant" mantra, the term been used as his indication to fend off inflation. His new stance is definitely a far cry from a hawk he used to be.

Strategy: Sell break of 154.93, buy break of 155.85.

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