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I completely agree. Trade what you see.
It is not about anymore how the figures are only when they are being released, to be at least aware of the possible volatility.
Joe normal won´t get the news as fast as the big guys
and even if, lately i could know the figures in advance and still not say with any certainty where the market will go.
Eurex is offering their clients now econ. data via their exchange stream, they call it appropriately "Flash News"
5k a month to be milliseconds faster than bloomberg........
One thing to consider about buy on good fundimentals sell on bad fundimentals is that not everyone is in the same type of trade.
Like if you have a 500 lot of bull call spreads trade the market will pop even on a down day. Those might be adding to a position that is already on... who know maybe legging into a condor.
Or if some Hedge Fund buys a boat full of oil and sticks it off of the coast somewhere, the may hedge with a large short postion in futures, on an up day.
My point, not just the actual news is effecting the way price moves it is also the different ways that news is being played.
Obvisouly, intraday futures trading make it a little easier to trade what is on the screen.
Any of yo CL traders trade Nat Gas? It was 5% move to day in that contract.
Gary ,
You are 100% right instead of looking at suppy and demand in the news you should be looking at the supply and demand on the charts! The best market makers in the world trade crude they take it where ever they want.
Hei,
also I would point out the news today "Employment Situation" at 8:30 EST, as every first Friday of month.
That certainly makes CL move and volume come in as if pit opened that time.
I am used to this web that has inside links to expected numbers for each news-report. U.S. Economic Calendar
As how to trade news time, I find very interesting following price action on a 1 minute chart. I also like trading the pre-news price as a big S/R.
