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Stay Defensive in this Rally: Strategist

Monday, 30 Jul 2012 | 2:00 AM ET

"We are staying defensive in this rally because we think that it is probably going to be disappointed, we have watched this movie a few times and we are about to watch it again, what is happening is an announcement by the ECB and then a meeting and then a disappointment," Gina Sanchez, director of equity and asset allocation strategy at Roubini Global Economics, told CNBC.