Tuesday, January 18, 2011

1/19 Almanac

On Wednesday, Jan. 19: Housing starts.

There are 3 days before the January options expire, 31 the February and 59 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 0.5% in a net move up of 0.3%.

The day's extremes: Open $129.18, high $129.64, low $129.03, close $129.52.

SPY traded entirely within the DeMark pivots. The next DeMark pivots are $129.28-$129.03.

In total, 3.2 billion shares were traded on the three major U.S. stock exchange, 3% more than on the prior trading day.

Five-year bond yields imply inflation at 2.24%, up four basis points from the prior trading day.

Econ reports:

The Census Bureau releases its housing starts report at 8:30 a.m. Eastern. The markets watch this closely on the theory that housing is a catalyst for many other things.

The Mortgage Bankers release their weekly report on purchase applications at 7 a.m. This tracks the start of the financing process and so is a leading indicator for housing. Not a market mover.

Two weekly retail reports: ICSC-Goldman at 7:45 a.m. and Redbook at 8:55 a.m.

Treasury auctions 4-week bills at 11:30 a.m.

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

What I'm looking for:
  • Bull-side Entry on XLI. I'm waiting for a price pullback.
  • Possible exit from slow trade MVO. Analysis.

Click here for stocks on my Watchlist.

Good trading!

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