Oct 192011

CL 03 12 (1 Min) 10.19.11

10/19/2011 FED Beige Book (0800 HI time / 1400 EDT)
Forecast: n/a
Actual: n/a
Started @ 88.73
Peak@ 86.50 – 0830 (30 min)
223 ticks

Notes: Report was underperforming overall showing moderate or no economic growth in all 12 sectors. This caused a methodical drop in oil of 223 ticks over 30 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 0830, but even if you wait another 15 min, only about 15 ticks of profit would be lost.