take what you want from this: TOMORROW'S INFLATION REPORT WILL BE A REAL DOOZY AS if it didn't have enough to worry about, Wall Street tomorrow will have to deal with the latest consumer inflation report. And it might not be pretty. Back in May, I had an exclusive interview with Pat Jackman, the senior government economist who puts together the consumer price index. Jackman warned that the CPI during this past spring had been understating energy inflation because of statistical anomalies caused by seasonal adjustments. And he warned that these statistical quirks would be reversed - starting in June. That's the figure that will be announced on Wednesday. "We are going to show huge increases," Jackman told me. Wall Street is expecting the CPI to show a monthly gain of 0.7 percent, compared with the 0.6 percent increase in the May numbers that were announced last month. If the unwinding of that spring seasonal adjustment makes consumer inflation look a lot worse than investors expect, the already shaky stock and bond markets could be in for a rough ride. http://www.nypost.com/seven/07152008/business/tomorrows_inflation_report_will_be_a_rea_119950.htm
While its true that seasonal adjustment starts reversing itself in June, the adjusment historically has only been .1% so I wouldn't be hoping for a huge number.
I'll go out on a limb here and call your bluff. Sorry. In 30 seconds a 6 point bar, two retraces and the only place you had the time to enter short yielded 5 points; unless you were short anyway, which I doubt, since there wasn't divergence of any kind and support from a rainbow of EMAs. Liars suck.
If you look at the CPI non-seasonally adjusted number, it was 1%, the SA number is 1.1% so the adjustment was .1% spot on the money. My point was that you shouldn't expect a huge number due to the seasonal adjustment.
Its called going short before the report dummy. I've seen Wareco trade in the ET chat futures room. He's a good trader. If he says he's made 7, I believe him. YOU need to relax. There's enough people like you on this forum already. We don't need more
the CPI is bullshit anyways.. it's been understating inflation for years.. 3% inflation?? GIve me a fuckin break.. Annualized Inflation is in the double digits...
And the ignorant suck even more. You seem to imply that I waited until after the announcement to short. I went short at 1217 @8:15. I covered at 1210 about 30 seconds after the announcement. If I think based upon the article that inflation is going to be higher than expected, why in the hell would I wait until after the announcement to try and get short. That limb you went out on just got sawed off buddy.