Billy on 2/4/2010:
As Bob mentioned in his daily pre-opening comments, there is a bullish bias for Employment Report Days.
Consensus forecasts are calling for an increase of about 15K non-farm payrolls in tomorrow’s report.
A real risk-reward edge can only be found when the announced figures are wide off the mark of consensus expectations by at least 100K. In such a case, it pays to fade the opening gap. The charts below shows what intraday patterns to expect in case of a very strong or very weak off the markreport. (Source:Bespoke Premium).
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