There are 2 days before the last trading day for May options, 30 the June and 58 the July.
On the jump, market stats, econ reports, rules, my holdings and a good book...
Stats
Blue chip stocks (SPY) closed the latest regular session down 0.6% from the prior close. During the day SPY traversed 2.1% high to low in a net move down of 0.01% (1¢).
Today's extremes: Open $111.77, high $112.77, low $110.36, close $111.76.
SPY closed within the DeMark pivots and traded below them for part of the day. The next DeMark pivots are $109.86-$112.27.
In total, 4.2 billion shares were traded on the three major U.S. stock exchanges, 300 million more than on the prior trading day.
Econ reports:
Weekly jobless claims are out at 8:30 a.m. Eastern, the highest velocity measure of the jobs recovery (or non-recovery).
The leading indicators index will be released at 10 a.m. Eastern, and natural gas inventories at 10:30 a.m.
Rules:
By my rules, at this point in the cycle I can trade June covered calls, iron condors, and butterfly, calendar, diagonal and vertical spreads. Also, July single calls or puts. Shares, of course, are good anytime.
Good trading.
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
Martin Pring's detailed deconstruction of the economic cycle: What sorts stocks to look for at each stage of the recovery. A masterful analysis.
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