Monday, December 20, 2010

12/21 Almanac

On Tuesday, Dec. 21: Weekly retail reports.

There are 32 days before the January options expire, 60 the February and 88 the March.

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


Blue chip stocks (SPY) closed the latest regular session up 0.2% from the prior close. During the day SPY traversed 0.7% in a net move down of 0.03%.

The day's extremes: Open $124.64, high $124.90, low $123.98, close $124.60.

SPY closed within the DeMark pivots after trading both below and above their range. The next DeMark pivots are $123.83-$124.75.

In total, 2.5 billion shares were traded on the three major U.S. stock exchange, 24% fewer than on the prior trading day.

Five-year bond yields imply inflation at 1.96%, down one basis point from the prior trading day.

Econ reports:

Two weekly retail reports will be released: ICSC-Goldman store sales at 7:45 a.m., and Redbook at 8:55 a.m.

The markets are closed on Friday for Christmas.

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.

Good trading!

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