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Link To Fed's Minutes

WASHINGTON (MarketWatch) - Federal Reserve officials at their January meeting
shrugged off past concern and said the outlook for growth and inflation was looking
promising, according to minutes of the meeting released Wednesday. The minutes of
the Jan. 30-31 meeting said that FOMC members saw "a more favorable outlook" for
prices and growth than had been anticipated. Only one month earlier, FOMC members
had been concerned that a "subdued tone" of economic data meant risks to growth
had increased. The Fed members maintained their view that inflation was the top
concern of the central bank. Despite the recent good news on inflation, members said
it was not clear yet that a downtrend on core inflation had been "definitively
established." After all, the drop in energy and rent prices could well be temporary,
members said.

Odd. Gold going mental(up 200points on the day), Oil above $60, and the $'s
mooching about doing nothing in particular??

It'll sneak up on us like Bangalore Torpedoes in a Madras, Mels.
Here's hoping that the initial jobbie stuff will provide a little spice to unbung it a bit.

Probably, Chocco. :-)

Been having a look at the STIRS contracts to see if there's a stealth
move going on in anything to give us a clue, but they all look as though
someone's run a steamroller over the charts.

Bernanke's Goldilocks story is starting to get a bit boring.
Why can't he tell the one about the Big Bad Wolf, blowing down the
House of Straw and gobbling up the fat little piggy?
That would make life interesting. :-)

I was going to post an article that landed in my box this morning before the CPI numbers came out, but I couldn't get the links to work.
Just mailed it to you, Mels - maybe you can do summat with it ;)

Got it, thanks Chocco.
Will have a read.

Gold surged to a nine-month high in New York after the U.S. said inflation accelerated more than forecast in January and commodity prices jumped.

The consumer-price index increased 0.2 percent last month, more than the 0.1 percent economists estimated, boosting the appeal of gold as a hedge. Crude oil jumped above $60 a barrel and corn reached a 10-year high, helping to send the Goldman Sachs Commodity Index to the highest level this year.

480 didn't fire so I've removed it - am now looking for a short this morning.

I'm neutral at the moment but with a long bias.

Doncha just hate it when that happens - hesitated when it was 520 - could have had a nice quick exit and entry early doors and now I'm gonna end up screen gazing :(

That looks like a reversal long to me.

Long 487.

Good luck Harlosh - I might try a long but not until 450ish. Still reckon there's more short than long in there though - for the time being. So, on the short side I'll possibly try and get in if it gets to around 510ish

err, wrong mg - trade what I see not what I think.

Harlosh - hard luck - think I'll go and get some brekkie - no position and if I keep watching I'm bound to get in at the wrong time.

Long again.

Oooops - short from 510 - left one to trigger whilst having my brekkie - might not have been a good 'un

Looks like could be a whippy day mg so think I'll go for coffee and see how the land lies later.

Definitely Mr. Whippy today - so far. I'm trying to work off 8 and 4 hour supprt/resistance to get me in and out - supplemented by 1 hour. I had 510 as a resistance on the 1 hour. The bigger ones - 8 hour - I've got as 560ish resistance and 415ish as support. I've got positions to open at both these levels so should really walk away and leave them.

small long... 1.95 to 1.96 will do me for now..

Good call Foale - I got taken out of my short for -25

One of those days I'm afraid - couldn't read it for the life of me ;(

Tomorrow's another day, of course.