Tuesday, January 11, 2011

1/12 Almanac

On Wednesday, Jan. 12: Import/export, budget deficit, Fed's econ survey.

There are 10 days before the January options expire, 38 the February and 66 the March.

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



Stats

Blue chip stocks (SPY) closed the latest regular session up 0.4% from the prior close. During the day SPY traversed 0.6% in a net move down of 1¢.

The day's extremes: Open $127.44, high $127.74, low $126.95, close $127.43.

SPY traded above the DeMark pivots before closing within their range. The next DeMark pivots are $126.80-$127.59.

In total, 2.8 billion shares were traded on the three major U.S. stock exchange, 1% more than on the prior trading day.

Five-year bond yields imply inflation at 2.26%, up seven basis points from the prior trading day.


Econ reports:

Import and export prices, an indicator of inflation here and abroad, at 8:30 a.m. Eastern.

Also, Treasury releases its monthly budget at 2 p.m., showing the amount of the Federal deficit (think humongous), and simultaneously the Federal Reserve publishes its survey of economic conditions in its 12 districts.

Weekly oil inventories will be out at 10:30 a.m.

Speeches by Treasury Secretary Tim Geithner and the Dallas Fed Governor Richard Fisher, a non-voting member of the monetary policy body who leans toward the inflation pessimistic side of the spectrum.

Treasury speech texts are posted in the press release section of the agency's website.

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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