earliest way to read EIA report

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upstar

This Wednesday, I was waiting for the EIA report, I had the Thinkorswim news tab open, and the intraday 1min chart open for CL. The CL already dropped a great deal until I finally saw the inventory number showing at the news feed. Obviously this is not a good way to get ahead of others, or at least play even.

Which source is fastest to publish the EIA inventory data?
 
upstar said:
This Wednesday, I was waiting for the EIA report, I had the Thinkorswim news tab open, and the intraday 1min chart open for CL. The CL already dropped a great deal until I finally saw the inventory number showing at the news feed. Obviously this is not a good way to get ahead of others, or at least play even.

Which source is fastest to publish the EIA inventory data?
More...

The professionals have expensive news feed programs that auto-trade based on keywords and then continue to trade based on interpretation of the news. You'll never be faster than the automation of professional financial organizations. By the time the moment of the news release occurs, the initial move is over and it's time to watch the reaction to the news carefully. Often there is a price gap of .20 or more between the last trade just prior to the EIA release and the next contract traded. I've seen instant gaps of more than .50. What that means is that even if you could be the fastest trader on the block, you could get filled (or stopped out of a loser) at a price of $500 or more per contract than you expected based on seeing a 1-min price bar that opens at N and closes .50 or more further away.

If you want to play far better than even, learn to trade price action. That way you'll be able to take very high probability trades based on how the news is being interpreted and traded by the professionals. My quickest easiest profits in CL occur in the minutes after the news release. Anything else is just gambling because even if you knew what the news was, you have no idea how the CL market will react to the news. I've seen all-day bullish trends off a bearish report and vice-versa. Traders who trade what they think instead of what they see can get wiped out pretty easily.
 
upstar said:
----Wednesday....
---- waiting for the EIA report....
---- news tab open....
---- 1min chart open for CL.
---- CL already dropped a great deal ......
---- finally saw the inventory number showing at the news feed.
---- Which source is fastest to publish the EIA inventory data?
More...
1) FWIW ...... Try to "divine" the Wednesday EIA number from the API number released Tuesday at 3:30pm (Chicago Time) the day before. :cool:
2) Consider developing some contacts at the storage facilities to find correlations between a specific location(s) and the overall EIA number. :D
3) If CL surges "strongly" in one direction after the release, hope for a 100% and more retracement of the move the rest of the day. ;)
4) ? ...... ! ...... I think I am now in the "9000 Club"! Let the ticker tape parade begin! :)
 
upstar said:
Which source is fastest to publish the EIA inventory data?
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@upstar, did you ever find out?

ogarbitrage said:
The fastest source to publish the EIA data would probably be the EIA website.
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@ogarbitrage, sometimes the EIA website is delayed, yet the price moves as though the report came out.

NoDoji said:
The professionals have expensive news feed programs
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@NoDoji, are you guessing, if not, please name those expensive news feed programs, thanks.
 
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Overnight said:
Just go to the source. Hit refresh at 10:30 AM ET on Wednesdays for CL. http://ir.eia.gov/wpsr/wpsrsummary.pdf

The link doesn't change week-to-week, just the content.
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Yeah, thanks for the link, but their website has been delayed too in the past. EIA & API are feeding someone first or at exactly 10:30am & 4:30pm respectively; I don't know if by software API, paid news feed, or what, but the site can be delayed, sometimes by 15 minutes.

Maybe I'm just the unlucky one and just need to refresh faster.
 
MarketSteve said:
Yeah, thanks for the link, but their website has been delayed too in the past. EIA & API are feeding someone first or at exactly 10:30am & 4:30pm respectively; I don't know if by software API, paid news feed, or what, but the site can be delayed, sometimes by 15 minutes.

Maybe I'm just the unlucky one and just need to refresh faster.
More...

I don't know how you are getting a 15 minute delay on the report. If anything, my delay is 2-3 seconds as the PDF loads.
 
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