Wednesday, November 3, 2010

11/4 Almanac

On Thursday, Nov. 4: Productivity.

There are 16 days before the November options expire, 44 the December and 79 the January.

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


Stats

Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 1.3% in a net move up of 0.2%.

The day's extremes: Open $119.68, high $120.02, low $118.45, close $119.95.

SPY above within the DeMark pivots after trading below their range. The next DeMark pivots are $119.20-$120.77.

In total, 3 billion shares were traded on the three major U.S. stock exchange, 8% more than on the prior trading day.

Five-year bond yields imply inflation at 1.64%.


Econ reports:

The Labor Department reports on productivity -- the efficiency of labor -- and the labor cost of producing stuff. When productivity rises, so does the economy. Of course, one way of getting increased productivity is laying people off and making those who still have a job work harder. Attaining the greater good for the hive, I have found, often sucks for the individual worker-bee. The report is out at 8:30 a.m. Eastern.

Also out, weekly jobless claims at 8:30 a.m., and natural gas inventories at 10:30 a.m.

Chain stores will report sales throughout the day, and Monster.com releases its employment index at 6 a.m., yet another sneak preview of Friday's employment report from the government.

Treasury reports auction results for the 3-month and 6-month bills at 11 a.m.

The Federal Reserve releases its balance sheet and the money supply reports at 4:30 p.m.

All in all, a busy day, but not necessarily consequential.


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.


Good trading!





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