Friday, December 17, 2010

12/20 Almanac

On Monday, Dec. 20: No econ reports.

There are 33 days before the January options expire, 61 the February and 89 the March.

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


Blue chip stocks (SPY) closed the latest regular session down 0.4% from the prior close. During the day SPY traversed 0.5% in a net move up of 0.2%.

The day's extremes: Open $124.08, high $124.46, low $123.82, close $124.30.

SPY closed within the DeMark pivots after trading below their range. The next DeMark pivots are $124.06-$124.70.

In total, 3.3 billion shares were traded on the three major U.S. stock exchange, 23% more than on the prior trading day.

Five-year bond yields imply inflation at 1.97%, down one basis point from the prior trading day.

Econ reports:

There are no economics reports scheduled for release. Treasury will announce results of the 4-week bill auction at 11 a.m. Eastern.

Some big guns are due out later in the week: Gross domestic product and existing home sales on Wednesday, and durable goods and personal income and outlays on Thursday.

The markets are closed on Friday for Christmas. Oddly, banks are open.

Trading Calendar:

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

What I'm looking for:
  • FTR "income play" exit. The stock is ex-dividend and in bear phase, and the price has moved to bear phase but remains within range. The fundamentals are weak. Analysis.
  • INTC re-entry as an earnings play. Analysis.

Click here for stocks on my watchlists.

Enjoy the weekend!

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