1/11/2012 FED Beige Book (0900 HI time / 1400 EST)
Started @ 101.66
Peak@ 101.01 – 0929/0949 (29/49 min)
65 ticks (2x bottom).
Notes: Report was satisfactory overall showing moderate growth in all but one sector. This caused a methodical drop in oil of 65 ticks over 29 minutes. DO NOT USE JOBB. Wait about 3-4 min after the reports breaks to discern the direction, then if you see the indications of a FAN, place an order with the trend. Peak was reached at 0929, but even if you wait another 20 min, it double bottomed.