Tuesday, November 30, 2010

12/1 Almanac

On Wednesday, Dec. 1: Manufacturing index, auto sales, productivity.

There are 17 days before the December options expire, 52 the January and 80 the February.

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


Blue chip stocks (SPY) closed the latest regular session down 0.6% from the prior close. During the day SPY traversed 1.2% in a net move up of 0.4%.

The day's extremes: Open $117.98, high $119.17, low $117.81, close $118.49.

SPY traded below the DeMark pivots before trading within their range. The next DeMark pivots are $118.15-$119.51.

In total, 2.9 billion shares were traded on the three major U.S. stock exchange, 13% more than on the prior trading day.

Five-year bond yields imply inflation at 1.68%, down 6 basis points from the prior trading day.

Econ reports:

A busy econ day, with the Institute of Supply Management's manufacturing survey leading in significance. The ISM surveys several hundred manufacturing firms on aspects of their business, and produces an index from it. Out at 10 a.m. Eastern.

Throughout the day, the car and truck makers will be releasing sales figures. These are big ticket items, and perhaps it can truly be said at this point that as goes GM (and Ford, and Toyota), so goes the nation.

Otherwise, by the clock: Mortgage bankers purchase applications, a leading indicator for hom sales, at 7 a.m.; corporate layoffs, from the seasonally apt firm of Challenger, Gray & Christmas Inc., at 7:30 a.m.; an employment preview from the payroll processing company ADP, at 8:15 a.m.; productivity and costs at 8:30 a.m.; construction spending at 10 a.m.; and finally, the Fed's Beige Book, rarely a blockbuster but a lovely read all the same, at 2 p.m.

Trading Calendar:

By my rules, at this point in the cycle I can trade February 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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