Monday, November 8, 2010

11/9 Almanac

On Tuesday, Nov. 9: Three yawners, two retail and one wholesale.

There are 11 days before the November options expire, 39 the December and 74 the January.

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


Blue chip stocks (SPY) closed the latest regular session down 0.2% from the prior close. During the day SPY traversed 0.6% in a net move up of 0.1%.

The day's extremes: Open $122.34, high $122.69, low $121.94, close $122.49.

SPY traded below the DeMark pivots before closing within their range. The next DeMark pivots are $122.97-$122.22.

In total, 2.4 billion shares were traded on the three major U.S. stock exchange, 27% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.7%.

Econ reports:

None of the three reports out today are market movers. Two are retail reports: ICSC-Goldman store sales, at 7;45 a.m. Eastern, and Redbook at 8:55 a.m. The third report is wholesale trade at 10 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:
  • Monitoring existing positions.

Watchlist stocks:
  • Income: AOD, MRF, NLY.

Good trading!

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