Wednesday, December 29, 2010

12/30 Almanac

On Thursday, Dec. 30: Weekly jobless claims, pending home sales.

There are 23 days before the January options expire, 51 the February and 79 the March.

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


Blue chip stocks (SPY) closed the latest regular session up 0.1% from the prior close. During the day SPY traversed 0.2% in a net move down of 0.05%.

The day's extremes: Open $125.98, high $126.20, low $125.90, close $125.92.

SPY closed above the DeMark pivots after trading within their range. The next DeMark pivots are $125.76-$126.06.

In total, 1.6 billion shares were traded on the three major U.S. stock exchange, 3% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.06%, unchanged from the prior trading day.

Econ reports:

The big potential market-mover on Thursday is pending home sales at 10 a.m. Eastern. But the weekly jobless claims report, out at 8:30 a.m., can also bring calamity or joy to traders.

Also out, Chicago purchasing managers at 9:45 a.m., natural gas at 10:30 a.m., petroleum inventories at 11 a.m., farm prices at 3 p.m., and the Fed balance sheet and money supply at 4:30 p.m.

(I listed petroleum inventories on Wednesday's Almanac; it was an error.)

Treasury will announce auction results of the 3-month and 6-month bills at 11 a.m.

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, March straddles, calls and puts. And of course, shares are good at any time.

What I'm looking for, after New Year's Day:
  • INTC re-entry as an earnings play. Analysis. (It's looking grim.)
  • NKE post-earnings exit. Analysis.

Click here for stocks on my watchlists.

Good trading!

No comments:

Post a Comment