There are four trading days left before April options expire, 39 the May and 67 the June.
On the jump, market stats, mediawatch, rules, econ reports, portfolio and a good book...
Blue chip stocks (SPY) closed the latest regular session up 0.2% from the prior close. During the day SPY traversed 0.4% low to high in a net move up intraday of 0.2%.
Today's extremes: Open $119.70, high $120.05, low $119.56, close $119.74.
SPY traded as much as 7¢ above the DeMark pivot points but closed within the range. The next DeMark pivots are $119.65/$120.14.
In total, 3 billion shares were traded on the three major U.S. stock exchanges, down 100 million from the prior day.
Mediawatch: The Narrative has stocks rising on the EU's guarantees to help ease the Greek debt problem. Of course, that's only if you consider two-tenths of a percent to be a rise, and earlier in the day the stories had stocks not rising despite the Greek debt solution. So ultimately, The Narrative is once again absolute nonsense with no meaning whatsoever. It's enough to destroy faith in human rationality, a concept pioneered by the debt-ridden Greeks. Stephen Bernard and Tim Paradis did the AP story. They seasoned the Greeks with takeover announcements. Over at Reuters, Ellis Mnyandu's seasoning of choice was profit hopes. All in all, The Narrative makes a wilted Greek salad. | Financial consultant Leslie Masonson describes a strategy for using relative strength to trade exchange-traded funds for increased returns. |
Econ report: The government releases international trade numbers at 8:30 a.m., before the market opens. This report has more of an impact on forex than on stocks. But it's a key indicator of American competitiveness in the world.
And it has a direct bearing on the question of how China values its currency. The Americans claim that China is artificially keeping the renmenbi cheap so as to gain an advantage in exports.
My portfolio consists of . . .
April expiry:
- MCO, covered call, -c29
- BBY, bull call spread, c44/-c45
Dividend shares: AOD, JNK, NLY
Zombie shares: PALM.
Good trading!
New to private trading? Here's a look at How to Become a Private Trader.
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