Nov 012012

NG 12 12 (1 Min) 11.01.12

11/1/2012 Weekly Natural Gas Inventory Report (0430 HI time / 1030 EDT)
Forecast: 68B
Actual: 65B
Started @ 3.667
1st Peak @ 3.710 – 0431 (1 min)
43 ticks

Reversal to 3.655 – 0441 (11 min)
55 ticks

Notes: Slightly less gain in supply than the forecast caused a relatively mild spike of 43 ticks that crossed all 3 major SMAs, and was arrested by the 200 SMA. With JOBB, you would have filled long on the spike with about 20 ticks of slippage at about 3.700. More than likely your stop loss would not have gone on the chart due to the retracement quickness. Do not panic though, set your sell limit on the 200 or just below to eke out a small gain or break even. After achieving the 1st peak, it retreated to 3.682, just below the 100 SMA then bounced between the 200 and 100 SMA for 10 min. Then it dove for the reversal on the :11 bar to nick the S1 Pivot for 55 ticks total.