Monday, October 4, 2010

10/5 Almanac

On Tuesday, Oct. 5: Weekly retail, non-manufacturing index.

There are 11 days before the October options expire, 46 the November and 74 the December.

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


Blue chip stocks (SPY) closed the latest regular session down 0.8% from the prior close. During the day SPY traversed 1.5% in a net move down of 0.5%.

The day's extremes: Open $114.37, high $114.85, low $113.18, close $113.75.

SPY traded closed below the DeMark pivots. The next DeMark pivots are $112.63-$114.30.

In total, 2.8 billion shares were traded on the three major U.S. stock exchanges, 6% fewer than the prior trading day.

Econ reports:

Not much here.

ICSC-Goldman releases comparable sales figures for major retailers at 7:45 a.m., and Redbook does it's version of retail sales at 8:55 a.m. These reports can move the retail sector, but generally aren't considered in the top-tier of reports.

The Institute for Supply Management reports on non-manufacturing activity at 10 a.m. This index includes retail, but much, much more: Ag, telcom, retail and wholesale, mining, and the list goes on. Traditionally, not a market mover.

Trading Calendar:

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

What I'm looking for:
  • CMG: Pullback to near the 20-day moving average (for entry as a bull play. Analysis.
  • ENDP: Break above the swing high of $34.26 to trigger reentry. Analysis.
  • MO: A break above the swing high to trigger reentry, or a break below the 20-day moving average to trigger an exit. Analysis.
Other Watchlist stocks:
  • Bull: ENDP, LVS.
  • Income: AOD, NLY.

Good trading!

No comments:

Post a Comment