What caused this surge at precisely 11am then 11:13am in Euro , Cable, NQ, Bonds well everything?! Greenie was supposed to start his speech at 11 am right? Why did everything take off like crazy at 11 am sharp? I wasn't watching Bloomberg but I doubt he had said anything at that point (11:00).
That's a good question we in the room all asked ourselves, too. Why the surge before Greeny had spoken a word? We were speculating guys in the pits had insider information before the public got it, or sth like that... It really wasn't normal. Anybody who's got a clue... Please comment!
Someone got a hold of his notes, skimmed through them, and placed a cell call to his buddies just as he began his speach peace axeman
Perhaps there was a 5 minute delay to his speech broadcast in case he pulled out his wiener in front of the cameras, to try and upstage Janet and Justin. The speech therefor actually began at 10:55am.
I don't know why anybody would have been short there (ES), it was a decent parabolic breakout-shape. Always a great way to die fading a base like that. That said, I was long ES, and closed out for a +1.5pt gain. I need not describe how upset I was (...am...) that I closed it, to watch it climb another 10pts just like that. It wasn't even my biggest trade in the day. It surely was the most stupid trade I've closed for a long time...
He must have released his opening statement before hand. They were reading what he was going to say on CNBC before he started talking.
How long have you been in this freaking business??? The FED always releases the written testimony of Alan Greenspan shortly before Alan actually gives his live speech. This is nothing unusual.