Thursday, January 20, 2011

1/21 Almanac

On Friday, Jan. 21: Nothing. Nada. Zip.

This is the last trading day for January options. There are 29 days before the February options expire, 57 the March and 85 the April.

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 1.0% in a net move up of 0.1%.

The day's extremes: Open $127.96, high $128.40, low $127.13, close $128.08.

SPY traded below the DeMark pivots before closing within their range. The next DeMark pivots are $127.13-$128.25.

In total, 3.4 billion shares were traded on the three major U.S. stock exchange, 6% more than on the prior trading day.

Five-year bond yields imply inflation at 2.19%, down three basis points from the prior trading day.

Econ reports:

No econ reports. No Treasury auctions. No Fed speeches. A perfect day for nihilist trading.

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:
  • Clarity in the markets following Thursday morning's barrage of bear signals.

Click here for stocks on my Watchlist.

Good trading!

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