Emini Trading Update – Friday 3 Feb 2012 (18:58)
Well all the range was pre-open after the employment numbers came out. So not much to play with during the day. The best plan was to get out with a little and then leave it alone. There will be other days.
Link of the day …
I’m sure everyone knows that the Labor Department stats are heavily massaged. To me, it feels like the Ministry of Truth in George Orwell’s 1984. Good intentioned, I’m sure. Oh, and also just given a huge boost to Obama – watch him milk that for all it’s worth!
But a Government department surely should just report the facts – and then leave it to private sector data analysts to do their own seasonal adjusting, etc. etc. Market participants would then use the “value added” analysis that they feel has the best track record and has the best commentary.
Plus, just an aside on seasonal adjusting: it’s totally necessary. Just look at a 12 month change and it eliminates having to adjust for seasonality. Duh.
Anyway, the Ministry of Truth is driving Charles Biderman of Trim Tabs to distraction. Great little videos – plus my daily weather report from SF.
Quotes of the day …
Feedback from the latest versions for TradeStation has been great. Thank you to every one. Here’s a taste:
From Keith R.
“Hi Barry, Hey, can I get the passwords again? I lost them … Just Kidding!!! ; ) Just a quick word of thanks for the updates to the ‘Better’ series … Obviously a lot of work on your part as the import is very streamlined and the setup is simplified. The colors will take a bit of getting used to but the additions are awesome! A very pleasant surprise considering software nowadays.”
And from Scott D.
“I just reviewed your indicator upgrade video. Here’s what I have to say: BRAVO! BRAVO! BRAVO! Outstanding! Thank you for putting so much thought into your new versions. Very nice refinements. About the color scheme: I like your thought pattern about color schemes. I had not considered that angle before. My thought pattern has always been: green or greenish for bullish indications, red or redish for bearish indications. I’ll have to reconsider my thinking on this. Thanks again for all you do! I’m addicted to your videos.”
Good luck with your Emini trading.