Apr 272013

CL 05-13 (1 Min) 3_27_2013

Caption for 3/27:
3/27/2013 Weekly Crude Oil Inventory Report (1030 EDT)
Forecast: 1.5M
Actual: 3.3M
Started @ 95.82
1st Peak @ 95.93 – 1031 (1 min)
11 ticks

Reversal to 95.74 – 1031 (1 min)
-19 ticks

Notes: Moderate gain in crude inventories when a smaller gain was expected, while gasoline saw a moderate draw and distillates saw a large draw. This prompted an indecisive reaction as the distillate and crude readings offset. It shot long for 11 ticks, then quickly reversed for 19 ticks and eventually settled lower. With JOBB and a 10 tick buffer, you may have filled long at 95.93 with 1 tick of slippage or not been filled. If filled, you would have seen it hover between 5-10 ticks in the red for about 20 secm before it would have stopped you out. You could close out early, or move you stop loss up about 5 ticks, but you could have prevented the 15 tick loss. After the indecisive :31 bar, it continued to fall another 11 ticks, then bounced back up long for 40 ticks in the next 12 min to double top the :29 bar previously. Then it chopped sideways, oscillating around the SMAs.