Friday is the last trading day for May options. There are 30 days before the June options expire and and 57 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 3.8% from the prior close. During the day SPY traversed 2.2% high to low in a net move down of 1.7%.
Thursday's extremes: Open $109.38, high $109.89, low $107.47, close $107.54.
SPY closed below the DeMark pivots and traded below them for most of the day. The next DeMark pivots are $106.30-$108.72.
In total, 5.4 billion shares were traded on the three major U.S. stock exchanges, 1.2 billion more than on the prior trading day.
Econ reports: None.
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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