Wednesday, June 9, 2010

6/10 Almanac

On Thursday, June 10: International trade.

There are 9 days before the June options expire, 37 the July and 72 the August.

On the jump, market stats, econ reports, trading calendar and a good book...


Stats

Blue chip stocks (SPY) closed the latest regular session down 0.5% from the prior close. During the day SPY traversed 2.5% high to low in a net move down of 1.1%.

Wednesday's extremes: Open $107.24, high $108.28, low $105.60, close $106.05.

SPY traded both above and below the DeMark pivots before closing within them. The next DeMark pivots are $104.49-$107.17.

In total, 3.7 billion shares were traded on the three major U.S. stock exchanges, down 12.7% from the prior trading day.

Econ reports:

The latest international trade figures will be out at 8:30 a.m. Eastern. Often a big mover of the dollar in forex, and also of other markets.

Weekly jobless claims will be released at 8:30 a.m., natural gas inventories at 10:30 a.m., and the federal budget deficit at 2 p.m.


Everything you need to know about the economic indicators that drive the markets. From the staff of The Economist.


Trading Calendar:

By my rules, at this point in the cycle I can trade July covered calls, iron condors, butterflies, and diagonal, calendar and vertical spreads. Also, August single calls or puts. Shares, of course, are good anytime.


Good trading!


The Great Reflation: How Investors Can Profit From the New World of Money
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.



New to Private Trader? Check out the Reader's Guide
New to private trading? Here's a look at How to Become a Private Trader.

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