Wednesday, November 17, 2010

11/18 Almanac

On Thursday, Nov. 18: Jobless claims, Filly Phed Survey.

There are 2 days before the November options expire, 30 the December and 65 the January.

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


Blue chip stocks (SPY) closed the latest regular session up 0.05% (5¢) from the prior close. During the day SPY traversed 0.7% in a net move up of 0.1% (6¢).

The day's extremes: Open $118.21, high $118.71, low $117.86, close $118.22.

SPY traded entirely within the range of the DeMark pivots. The next DeMark pivots are $118.04-$118.89.

In total, 2.7 billion shares were traded on the three major U.S. stock exchange, 21% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.64%, up 3 basis points from the prior trading day.

Econ reports:

Weekly jobless claims will be released at 8:30 a.m. Eastern. Sometimes a market mover if the actual results run counter to analysts' expectations.

The big potential market mover is the innocuously named Philadelphia Fed Survey, which looks at overall business conditions in the Philadelphia Federal Reserve District, a significant chunk of the nation's economy. As Philly goes, so goes the nation.

Natural gas inventories will be released at 10:30 a.m.

Also, some reports of little influence that I find to be useful and informative (but what do I know): Leading indicators at 10 a.m., and the Fed balance sheet and money supply at 4:30 p.m.

Finally, Treasury announces auction results, for the 3-month and 6-month bills, and the 2-year, 5-year and 7-year notes, all at 11 a.m.

Trading Calendar:

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

What I'm looking for:
Click here for stocks on my watchlists. Good trading!

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