CL 03 12 (1 Min) 02.03.12

2/3/2011 Monthly Unemployment Report (0330 HI time / 0830 EST)
Non Farm Jobs Forecast: 150K
Non Farm Jobs Actual:243K
Previous Revision: +3K to 200K
Rate Forecast: 8.5%
Rate Actual:8.3%
SPIKE WITH 2ND PEAK
Started @ 96.41
1st Peak @ 97.26 – 0331 (1 min)
85 ticks

2nd Peak @ 97.47 – 0338 (8 min)
106 ticks

Reversal to 96.66 – 0351 (21 min)
81 ticks

Notes: Strongly positive report that greatly exceeded the forecast with Jobs and the rate with a negligible upward revision to the previous report causing a healthy spike upward and follow on 2nd peak. The jobs created were legitimate even if the rate job was “cooked”, so the reaction was decidedly positive. I would wait for the 2nd peak and close out in the 97.40 range.