Friday, October 29, 2010

11/1 Almanac

On Monday, Nov. 1: Personal income and outlays, manufacturing.

There are 19 days before the November options expire, 47 the December and 82 the January.

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


Blue chip stocks (SPY) closed the latest regular session up 0.1% from the prior close. During the day SPY traversed 0.6% in a net move up of 0.6%.

The day's extremes: Open $118.28, high $189.72, low $118.07, close $118.49.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $118.28-$118.93.

In total, 3.1 billion shares were traded on the three major U.S. stock exchange, 3% more than on the prior trading day.

Five-year bond yields imply inflation at 1.6%.

Econ reports:

Personal income and outlays are released at 8:30 a.m. Eastern. Often a market-mover, this report is used to calculate the savings rate, an important factor in whether we will spend our way back to prosperity.

Also, the manufacturing index and construction spending are both out at 10 a.m.

The Treasury will announce results of the 4-week T-bill and 10-year TIPS auctions.

The biggest econ event of the week is employment, on Friday.

Trading Calendar:

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

What I'm looking for:
  • Monitoring existing positions.

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

Enjoy the weekend!

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