Friday, October 15, 2010

10/18 Almanac

On Monday, Oct. 18: Industrial production.

There are 33 days before the November options expire, 61 the December and 96 the January.

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


Blue chip stocks (SPY) closed the latest regular session up 0.2% from the prior close. During the day SPY traversed 1.3% in a net move down of 0.5%.

The day's extremes: Open $118.28, high $118.35, low $116.76, close $117.70.

SPY closed within the DeMark pivots after trading above their range. The next DeMark pivots are $116.44-$118.03.

In total, 3.6 billion shares were traded on the three major U.S. stock exchanges, 15% more than the prior trading day.

Econ reports:

The industrial production report, sometimes a major market mover, will be released at 9:15 a.m. Eastern.

Also up, Treasury's report on foreign moneyflows into and out of the United States, also known as the "Does China Still Love Us?" report. The housing market index will be released at 10 a.m.

Looking further into the week, housing starts on Tuesday and the Philadelphia Fed survey on Thursday. No reports on Friday, but the G20 finance ministers are meeting in Korea.

Trading Calendar:

By my rules, at this point in the cycle I can trade November vertical, calendar, diagonal and diagonal spreads, and also iron condors. I can sell November covered calls, and trade December straddles, calls and puts. And of course, shares are good at any time.

What I'm looking for:
  • NLY: A rise above $18.40 or so for re-entry on the bull side. Analysis.
  • IDCC: A break above $30.67 for entry on the bull side. Analysis.

Fast Trading Watchlist stocks:
  • Bull: CMG, ENP, IDCC, LVS, MO.
  • Income: AOD, NLY.

Slow Trading Watchlist stocks:

Enjoy the weekend!

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