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

To: yard_man who wrote (627)	2/25/2004 1:28:42 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

I am putting on that play as a rate hike protection. My guess is that they neither hike nor cut. An alternative is they hike once for 1/4 and that is that. A slowing US economy that I expect, should damper things everywhere. Still the UK is doing better that elsewhere in Europe it seems so they may just decide to watch for a while. If nothing happens for 3 months or if we slowly rise it is possible that I can buy them back for a few ticks higher with my futures 15 points higher. At that point I would have to re-evaluate things. Right now, this will tie me into a several month long swing trade at the very minimum. If the UK cuts I will just be happy with my profit I guess.