Wednesday, October 6, 2010

10/7 Almanac

On Thursday, Oct. 7: Weekly jobless claims.

There are 9 days before the October options expire, 44 the November and 72 the December.

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


Blue chip stocks (SPY) closed the latest regular session 0.01% from the prior close. During the day SPY traversed 0.7% in a net move up of 0.01%.

That is, the close was one cent above the open and one cent below yesterday's close.

The day's extremes: Open $116.02, high $116.33, low $115.58, close $116.03.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $115.81-$116.56.

In total, 3.1 billion shares were traded on the three major U.S. stock exchanges, 11% fewer than the prior trading day.

Econ reports:

Weekly jobless claims will be rleased at 8:30 a.m. Eastern. Often a market-mover in its own right, the report this week will be an overture for Friday's monthly employment report. will release its employment index at 6 a.m.

The other potential market mover, for energy, at least, is the natural gas report, out at 10:30 a.m.

Also, chain store sales throughout the day, consumer credit at 3 p.m., and the Fed balance sheet and money supply at 4:30 p.m.

Treasury will make auction announcements for the 3-month and 6-month bills, 3-year and 10-year notes and the 30-year bonds.

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:
  • ENDP: Break above the swing high of $34.26 to trigger reentry. Analysis.
Other Watchlist stocks:
  • Bull: CMG, LVS, MO.
  • Income: AOD, NLY.

Good trading!

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