There are 4 days before the June options expire, 32 the July and 67 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 0.2% from the prior close. During the day SPY traversed 1.6% high to low in a net move down of 0.9%. Friday's extremes: Open $110.52, high $111.12, low $109.40, close $109.51. SPY traded closed within the DeMark pivots after trading above the range. The next DeMark pivots are $108.60-$110.32. In total, 3 billion shares were traded on the three major U.S. stock exchanges, up 5.8% from the prior trading day. Econ reports: The international capital report is out at 9 a.m. Eastern. This measures foreign holdings of U.S. financial instruments. The housing market index is out at 10 a.m., a complex measure of demand and housing market momentum. Couple of small fry: ICSC-Goldman store sales at 7:45 a.m., and Empire State manufacturing survey and also import/export prices at 8:30 a.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!
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.
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