Hi Jack-7
I'm not sure about Tom, but I trade the occassional bond contract and I wouldn't dream of trading until after a report has been released. Not too long ago I witnessed a 3.2 million dollar winning position turn into a 2.2 million dollar loss in about 4 minutes! The trader refused to acknowledge a report was being released and got slaughtered. I never, under any circumstances, trade into a report! I flatten any position that could be effected, let the report come out, then re-enter if I want to. All it takes is one unexpected bit of data and your account is wiped out and then some. Make no mistake, trading in highly leveraged derivatives, is risky enough as it is, don't add to that risk by "gambling" into reports. Lets all play safe this year.
Rob