CL Redux

Quote from BCE:

I knew there was another report this morning. Chicago PMI in 6 min. That may move things.

http://www.briefing.com/investor/calendars/economic/2012/02/27-02
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# 9:49a

BREAKING

Chicago PMI accelerates in February

Feb. 29, 2012, 9:49 a.m. EST
Chicago PMI accelerates in February

WASHINGTON (MarketWatch) -- The Chicago business barometer, which also is known as the Chicago PMI, accelerated to a reading of 64.0% in February from 60.2% in January, ISM-Chicago said Wednesday. The index measuring production was the highest since April, new orders hit an 11-month high, order backlogs moved out of contraction and employment had the biggest one-month gain since March 2008. Economists polled by MarketWatch had anticipated a small dip to 60.0%.
 
Quote from Visaria:

short 710, small position
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Thought about 107.20 but didn't. That was a nice little one point run off the morning low.

ADD: At some point expecting a pullback a bit before inventories.
 
Bernanke's speaking.

Feb. 29, 2012, 10:00 a.m. EST
Fed watching data given mixed signals: Bernanke

# 10:02a

Bernanke: Fundamentals that support spending weak
# 10:01a

Bernanke: Challenges remain for Europe
 
They guaranteed me that crude would be $125 to $250 a barrel within a couple of weeks if not sooner. The talking heads themselves said it. What's the world coming to when you can't even trust the talking heads?
 
Quote from Picaso:

The IED?
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The report will be an IED.

ADD: Don't really think CL will ignore this report like it was for a few weeks. Expecting it to move.
 
Quote from BCE:

The report will be an IED.

ADD: Don't really think CL will ignore this report like it was for a few weeks. Expecting it to move.
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I think that, as usual, the large players have already decided where they want it :)

Below I have 105.45

Above 108.50-ish has the most volume

Good luck/skill to all!
 
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