There are 10 days before the June options expire, 38 the July and 73 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 up 1.1% from the prior close. During the day SPY traversed 2.1% low to high in a net move up of 1.0%. Wednesday's extremes: Open $105.57, high $106.83, low $104.65, close $106.62. SPY closed above the DeMark pivots. The next DeMark pivots are $105.64-$107.82. In total, 3.6 billion shares were traded on the three major U.S. stock exchanges, down 7% from the prior trading day. Econ reports: The weekly petroleum status report is out at 10:30 a.m. Eastern, the only report of the day that generally can have a market impact, although in this case it's mainly the energy sector.The wholesale trade report will be released at 10 a.m. Fed Chair Bernanke testifies on the Hill at 10 a.m. about the federal budget under current economic conditions, and gives a speech at 4 p.m. at an employment trends forum. The Fed releases its Beige Book survey of the economy by region 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!
OK. The credit bubble burst. Housing, burst. Shockwaves reverberated. Markets collapsed. What lies ahead as we remerge from the wreckage.
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