Monday, January 10, 2011

1/11 Almanac

On Tuesday, Jan. 11: Weekly retail reports, wholesale trade.

There are 11 days before the January options expire, 39 the February and 67 the March.

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


Blue chip stocks (SPY) closed the latest regular session down 0.1% from the prior close. During the day SPY traversed 0.8% in a net move up of 0.3%.

The day's extremes: Open $126.58, high $127.16, low $126.20, close $126.98.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $126.59-$127.55.

In total, 2.8 billion shares were traded on the three major U.S. stock exchange, 10% fewer than on the prior trading day.

Five-year bond yields imply inflation at 2.19%, up one basis point from the prior trading day.

Econ reports:

I wouldn't expect any of the small fry being released today to move the markets in any significant way.

There are two weekly retail reports in queue: The ICSC-Goldman store sales at 7:45 a.m. Eastern, and Redbook at 8:55 a.m. The Census Bureau will release its monthly wholesale trade figures at 10 a.m.

Treasury will auction 4-week and 52-week bills at 11:30 a.m., and 3-year notes at 1 p.m.

Charles Plosser, president of the Philadelphia Federal Reserve Bank, gives a speech. He is a non-voting member of the Federal Open Market Committee who ranks as something of an inflation pessimist (although not at the extreme end of the scale).

Texts of Federal Reserve speeches are usually posted an the agency's website a day or so after delivery.

Trading Calendar:

By my rules, at this point in the cycle I can trade February vertical, calendar, diagonal and butterfly 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:

Click here for stocks on my Watchlist.

Good trading!

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